Ringleader in bank scam in China gets death sentence

Ringleader in bank scam in China gets death sentence

BEIJING, May 2 Kyodo

The ringleader in a bank scam which netted $8.4 million has been sentenced to death by a local court, a Chinese newspaper reported Tuesday.

Peng Farong and his accomplice, Yang Jianguang, worked with an official at a branch of the Bank of Communications in southwestern China’s Yunnan Province to forge false deposit receipts, the official China Daily reported.

Yang and the bank official, Xuan Ying, were each given stays of execution and life imprisonment, the paper said.

The three formed a shell company which collected “interest” on the false deposits.

According to Amnesty International, China leads the world in executions of convicted criminals. The agency says there were 1,769 confirmed executions in China in 1998, the last year for which complete figures are available.

Beijing is in the midst of a nationwide anticorruption campaign, with white-collar criminals often receiving severe punishments.

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