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Top managers of investment fund in China were sentenced to death for fraud
Saturday, 19 November 2011 14:06

News agency Global Times reported, that president and five senior managers of the Lishui Yintai Real Estate Investment Company in China were sentenced to death for fraud with money in of 5.5 billion yuan (about 870 million U.S. dollars). Fraud was expressed that the company Lishui Yintai Real Estate Investment Company illegally collected money from people for the construction of residential buildings, which were not built, therefore, the company's managers were arrested, when all ended the time of the contracts. Lishui Yintai Real Estate Investment Company was founded in 2002 and had a number of subsidiaries and branches in the provinces Zhejiang, Jiangxi and Hunan. Later, five senior managers from the Lishui Yintai Real Estate Investment Company received death sentences with reprieves and imprisonment.


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