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Fraud billionaire may escape death penalty

(Beijing Review)

16:50, November 07, 2011

SHANGHAI - Wu Ying, a Zhejiang billionaire who was sentenced to death on her first trial in one of the country's biggest financial frauds committed by a woman, may have a narrow escape as the province's high people's court remands the case back for a new trial.

Wang Jun, a judge from the high people's court of Zhejiang province who's handling Wu's civil actions, said Jinhua intermediate people's court would rehear Wu's related civil cases covering disputes over Zhengjiang's Dongyang-based Bense Holding Group's property rights without offering any reason. Wang also mentioned that the two courts are in the process of transferring the case, according to Caixin.cn, a financial news media.

Thirty-year-old Wu, former owner of Bense Holding Group, was sentenced to death, a deprivation of her political rights for life and confiscation of all personal property at her original trial by the Jinhua intermediate people's court in December 2009.

The indictment said Wu swindled nearly 390 million yuan ($57 million) from 11 people by fraudulently promising high returns.

Wu then pleaded guilty to a lesser charge seven months ago at her appeal against an earlier conviction and against the death sentence she was handed.

The retrial concerned what Wu referred to as false arrest. Wu said she has been kept in unlawful detention for eight days by a group of people headed by Yang Zhi'ang, one of her creditors. Wu alleged she was robbed of cash and check, valued at 3.3 million yuan, plus several bank cards, luxury watch and jewelry, on Dec 20, 2006.

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Email|Print|Comments(Editor:梁军)

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Gerard at 2011-11-08123.131.134.*
They all signed for her death as they are all just as guilty as she is. A dead person can not talk. Funny how there are always different laws for the rich and well connected poeple in the world.
  

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