Wang Zhendong

China Executes Man for Ant-Breeding Scheme

Wang Zhendong, the man at the center of the Yilishen investment scam that resulted in mass social unrest, was executed Wednesday. The Associated Press reports: Wang, chairman of Yingkou Donghua Trading Group Co., had promised...

Ant Fraud Yields Death Sentence – Ariana Eunjung Cha

From the Washington Post: YINGKOU, China — To hear Chinese authorities tell it, Wang Zhendong is a danger to society, the worst kind of person, one who took advantage of his fellow citizens’ naivete and trust. Last month, a court here gave him the death penalty for his crimes. As China moves fitfully from a […]

Death Penalty over China Ant Scam – BBC

A Chinese company chairman has been sentenced to death for running a scam involving giant ants, via BBC: Wang Zhendong promised investors returns of up to 60% if they put money into the fictitious ant-breeding project, the court heard. Wang, from Liaoning province, raised 3bn yuan ($390m; ¬£200m) in three years, prosecutors said… More than […]

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