Li Yufen, a former manager in Changchun, the capital...
Li Yufen, a former manager in Changchun, the capital of Jilin Province, northeast China, was executed for embezzling over 90 million yuan (11 million U
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Li Yufen, a former manager in Changchun, the capital of Jilin Province, northeast China, was executed for embezzling over 90 million yuan (11 million U.S. dollars) from local businesses and individuals who had invested in her company.
Court records show that Li cheated a number of companies and individuals out of some 92 million yuan as investment in corn provided by Li's company, the Changchun-based Delong Material Supplies Co. Li promised their investment would see a monthly gain of ten percent.
To maintain the investors' trust, Li returned 45 million yuan (5.4 million U.S. dollars) to some corporate investors, and pocketed the remaining 47 million yuan (5.6 million U.S. dollars).
The Jilin Higher People's Court sentenced Li to death earlier in 2001, charging that she had fabricated sales contracts, concealed facts and defrauded the investors of large sums, using high investment returns as incentive.
The court also ordered that all Li's personal property be confiscated and her political rights deprived.
Li was executed shortly after her case was reviewed by the Supreme People's Court, which approved the death sentence.
Court records show that Li cheated a number of companies and individuals out of some 92 million yuan as investment in corn provided by Li's company, the Changchun-based Delong Material Supplies Co. Li promised their investment would see a monthly gain of ten percent.
To maintain the investors' trust, Li returned 45 million yuan (5.4 million U.S. dollars) to some corporate investors, and pocketed the remaining 47 million yuan (5.6 million U.S. dollars).
The Jilin Higher People's Court sentenced Li to death earlier in 2001, charging that she had fabricated sales contracts, concealed facts and defrauded the investors of large sums, using high investment returns as incentive.
The court also ordered that all Li's personal property be confiscated and her political rights deprived.
Li was executed shortly after her case was reviewed by the Supreme People's Court, which approved the death sentence.
— SOURCES
- (Sources: Xinhua News Agency Bulletin, 17/12/2001)
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