Men executed for fraud
2004-08-20 13:56
Beijing - China on Friday executed three men who were convicted of defrauding major firms and banks of more than 100 million yuan ($12,15-million), state media said.
The Beijing No 1 Intermediate People's Court executed Zu Feng, Sun Liang and Sun Liansheng for organising the massive fraud operation from 1997 to 2001, China News Service said.
The three men and two accomplices used forged company stamps, cheques and other documents to obtain fraudulent loans.
Victims included the state-run Capital Iron and Steel, one of Beijing's largest employers, which the gang persuaded in 2001 to deposit 100 million yuan into an account at a bank where their female accomplice worked.
The gang transferred a loan of 70 million yuan ($8,51- million dollars) from the Capital Iron and Steel account to their fictitious real estate company, the agency said.
China passes hundreds of death sentences every year, many of them for economic crimes rather than murder or other violent crimes.
The government publishes no statistics on executions but human rights group Amnesty International said it recorded 726 executions last year.
Many executions go unreported and the government regards the annual total as a state secret. - dpa
- SAPA