China executes bank staff for fraud

China executes bank staff for fraud

Part of Beijing's intense crackdown on white-collar crime ahead of IPOs, state-owned agency says.
September 14, 2004: 12:58 PM EDT

BEIJING (Reuters) - China executed four people, including employees of two of its Big Four state-owned banks, for fraud totaling $15 million, the state Xinhua news agency said Tuesday.

The executions occurred in the midst a high-profile government campaign against financial crime. They followed a string of arrests in white-collar crime as China prepares to sell shares publicly in its big banks.

The latest cases involved China Construction Bank, due to raise up to $10 billion in an IPO next year; and Bank of China, which is moving towards an IPO worth up to $4 billion.

http://money.cnn.com/2004/09/14/news/international/china_banks.reut/index.htm?cnn=yes

How happy do you think the Enron executives are to be on this side of the Pacific?

This is why I hate Communist countries. Their bullshit shines through with shit like this. ing Communist official scum.
I hope some day China will be free. sighes.

They should do that here.

[quote name='Sarang01']This is why I hate Communist countries. Their bullshit shines through with shit like this. shaq-fuing Communist official scum.
I hope some day China will be free. sighes.[/quote]

execution is a bit extreme, however how china dealt with them compared to how we dealt with enron, china had the more just punishment.

im very against the death penelty for any reason, however i feel the enron guys might have learned a lesson if they were punished with solitary confinment and a life of hard labor.

Life of hard labor.....RIGHT !!! When these guys get out I'm sure they won't even know what a callus is.

We should have just deported the Enron execs to China.

Death penalty for a few million yuan?

And that is where the 2008 olympics are going to be!

Sucks to be an athlete from any country. =[


Support 'Free Tibet' and other anti-government movements in and around China.
And we need to convince the United Nations to take action, and the hydrogen bomb arsenals of the United States and Russia will prevent China from using their atomic bombs in the event of an invasion by UN troops, if it comes to that.

Remember we can't do too much to offend China. They're our #1 source of cheap labor.

[quote name='eldad9']Remember we can't do too much to offend China. They're our #1 source of cheap labor.[/quote]

It's also hard to reprimand a nation for human rights violations when you're not doing such a great job of avoiding them yourself, a la Abu Gharaib.

BOYCOTT CHINESE PRODUCTS!


Seriously, next time you see a cheap item in a store, with a 'made in China' or 'made in Hong Kong*' sticker, don't buy it. Get the slightly more expensive item made in a more humane place.

*Hong Kong is just a half-democracy (the elites have a lot more control than the people) which acts as a front for the Communist government of China.

[quote name='evilpenguin9000'][quote name='eldad9']Remember we can't do too much to offend China. They're our #1 source of cheap labor.[/quote]

It's also hard to reprimand a nation for human rights violations when you're not doing such a great job of avoiding them yourself, a la Abu Gharaib.[/quote]

We didn't execute people there. I do see your point though. The whole "holier than thou" attitude is adpoted by EVERY country though.

The slightly more expensive items? if it's slightly more expensive, it's probably got some chinese components. If not, it's likely to cost 2-3 times as much. And you never really know because so much is from china. For example you won't be able to get happy meals any more because of the toys, and most electronics are out the window too.

Nintendo Gamecube use to be made in Japan now it's even made in China. sighes.