This is how they deal with rogue traders in China…
- Joshua M Brown
- April 9th, 2012
The sentence for "fraud of financing" in China? Death in this case...
From the Daily Mail:
A Chinese rogue trader who 'cheated' investors on her way to losing £10m in gold trading has been sentenced to death today.
The 30-year-old Wang Caipang was handed the sentence by a court in Wenzhou in east China after she borrowed the cash between January and October 2010.
Caiping, who must first serve two years in prison, borrowed huge sums of money promising to buy equipment, invest in property and open credit guarantee firms, but instead used the cash to speculate in futures and gold trading along with her elder brother, Wang Guanglin, who is still at large.
Which contrasts with how we deal with rogue traders here - book deal, plea agreement, film rights, reality show contestant stint and then probation.
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The Reformed Broker is a blog about financial markets and the economy. Joshua Brown is a New York City-based investment advisor for high net worth individuals, charitable foundations, retirement plans and corporations... More.