Latest News:  

English>>China Society

Woman sentenced to death for illegal fund-raising in E China


09:02, May 16, 2013

WENZHOU, May 15 (Xinhua) -- A 39-year-old businesswoman was sentenced to death for illegal fund-raising by a court in east China's Zhejiang Province on Wednesday.

The Wenzhou Intermediate People's Court convicted Lin Haiyan, former general manager of Wenzhou Xinfu, an investment consultancy, of illegally raising 640 million yuan (about 103 million U.S. dollars) from others.

Lin began to invest in the futures market with the money she raised from others in 2007. She accrued huge losses and were unable to return 428 million yuan to the lenders.

The court also ordered her to return the money to the victims.

In a previous illegal fund-raising case in Zhejiang, businesswoman Wu Ying was convicted of cheating investors out of 380 million yuan from May 2005 to January 2007 in private lending scams.

She was initially sentenced to death in 2009. After her case sparked heated debate over the country's fund-raising system, her sentence was reduced to death with a two-year reprieve following a retrial in May 2012.

We Recommend:

Young tenants' dream in Beijing

Brazilian self-defense martial art gains popularity

Huge rubber duck visits Hong Kong

5 years after Wenchuan earthquake

Flight attendent recruitment in Wuhan

China embraces beginning of summer

Photo story: Little boy walking on his hands

Beijing welcomes longest subway line in the world

S China city becomes Venice after heavy rain

Email|Print|Comments(Editor:HuangJin、Chen Lidan)

Leave your comment0 comments

  1. Name


Selections for you

  1. Jiangmen missile frigate in fire training

  2. Troops in night equipment support drill

  3. Traditional Carabao Festival kicks off

  4. Giant rubber duck deflates at HK harbor

  5. Yi people celebrate festival in Yunnan

  6. China’s weekly story (2013.5.3-5.11)

  7. Top 10 weirdest currencies in the world

  8. Angelina Jolie has double mastectomy

  9. 2013 Qingdao Int'l Auto Show kicks off

  10. No Wonderland any more

Most Popular


  1. Huawei spy story is nothing but a joke
  2. Ten white papers, road to human rights protection
  3. Teen's tragedy reveals child abuse problems
  4. People with depression show disrupted brain 'clock'
  5. iPad obsession hurting child's development
  6. Positive signs in Europe hard won
  7. Who do psychiatrists turn to for therapy?
  8. Park-Obama summit cements alliance
  9. Disclosure delays help fuel online rumors
  10. Yuan appreciation nears limit: experts

What’s happening in China

Helicopter hijacking drama over debt issue: Shandong government

  1. Child molestation suspects arrested
  2. China allocates 1.3 bln USD for low-rent housing
  3. China's lottery sales pick up steam
  4. Foot-and-mouth case confirmed in Xinjiang
  5. Helicopter hijacking confirmed by official