Tuesday, January 19, 2010

White collar crime in China

Crooked bankers, CEO's, and corrupt government officials are being executed, or are given life sentences in China. In the US, the perps are paying themselves billion-dollar bonuses.

http://www.google.com/hostednews/afp/article/ALeqM5hlZKnWHo87TXxW7TAydpujc4beHg

Also last year, Li Peiying, the former head of the company that owns Beijing Capital International Airport, was executed after being convicted of bribery and embezzlement totalling nearly 16 million dollars.

The former head of oil giant Sinopec, Chen Tonghai, was sentenced to death in July after being found guilty of corrupt practices.

I wonder how many bankers and real estate developers they'll execute after the Chinese real estate bubble bursts.

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