Chinese man to hang for giant ant scam

[[R-CON]MrD]

There I was expecting some new props for the latest scifi movie, but no it turns out ants are used in traditional remedies and so this business deal could have been real in the hands of someone more honest.

Be aware that chinese medicines can work, but that they should only be prescribed by a pharmacist qualified person who asks you your medical history and won't over prescribe, contra-prescribe. Last year I almost died when a chinese girl cooked me a meal containing mushrooms I bet weren't saleable in the UK (she had them shipped in private food parcels) that contained medicine to prevent artery blockages and reduce incidents of heart attacks in the long run. These catalysed my NHS prescribed drugs and caused an overdose where I was seriously worried I was going to die.

Chinese man to hang for ant scam




A Chinese company chairman has been sentenced to death for running a scam involving giant ants.

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.

Fifteen other staff members were fined and given jail terms of between five and 10 years.

More than 10,000 investors signed 100,000 contracts with the company before the case was investigated in June 2005, Xinhua news agency reported.

Only 10m yuan was recovered before the case was brought to court, it said.

One investor committed suicide after realising he had been duped, according to the court.

Wang's actions also caused huge economic losses for investors and many subsequently suffered from depression, it added.

Ants are used in traditional medicines and remedies in parts of China.

http://news.bbc.co.uk/1/hi/world/asi...ic/6365123.stm

[lonelyjew]

That guy is lucky he got death rather than life in a Chinese prison.

[DirtyHarry88]

Yeah the Chinese don't mess about do they.

[SiN|ScarFace]

He should have cashed out and fled.

[Griffon2-6]

Hah, that's what he gets for being a capitalist!

He can't flee because one of the investors might work for the government.

[SiN|ScarFace]

Originally Posted by Griffon2-6

Hah, that's what he gets for being a capitalist!

He can't flee because one of the investors might work for the government.

Uhh you can buy your way out of china with 390million dollars, goto Taiwan or something then to the west and hide out.

He knew he was scamming people but wasn't smart enough to know when to quit.

[lonelyjew]

Well I do feel that idiocy should be punished. There is justice after all.

[SiN|ScarFace]

Originally Posted by lonelyjew

Well I do feel that idiocy should be punished. There is justice after all.

Who would be the bigger idiot, the investors putting money into giant ants or the guy taking the money and came up with the idea?

[[R-CON]MrD]

Originally Posted by SiN|ScarFace

Uhh you can buy your way out of china with 390million dollars, goto Taiwan or something then to the west and hide out.

He knew he was scamming people but wasn't smart enough to know when to quit.

Maybe he'd only been watching the Hollywood films where the guy got caught in the end and was missing that vital part of his education nominally seen in Brit films about how to get away with the crime ...................

[lonelyjew]

Originally Posted by SiN|ScarFace

Who would be the bigger idiot, the investors putting money into giant ants or the guy taking the money and came up with the idea?

Well, they were punished as well with the loss of their money(and lots of it to).