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February 15, 2007

Chinese man sentenced to death for ant scam


Ant, originally uploaded by dark orange.

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. [BBC]

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Comments

We needed this type of justice in the Enron case! Gotta love those commies from time to time. To hell with human rights! I love it!

Giant ants? What the ...?

His victims should be put to death as well, just to prevent them from breeding.

End the death penalty.

He should have offered his services to the North Koreans instead. They tried to hire that guy that bred the gigantic rabbits, and KJI is a big movie lover; how could giant ants not sell?

An army of giant ants would be quite formicidable.

Now I'm curious as to the details of the scam. How did he sell it?

1. Raise capital.
2. Breed giant ants.
3. ????
4. Profit!

What the hell do you do with giant ants? Train them as beasts of burden to carry six times their weight?

China continues to wrestle with the need to continue to grow their economy and expand business and trade in the modern world community, and the old Maoist Communist imstincts under a dictatorship to execute persons for nonviolent financial crimes.

"Giant ants from space snuff the human race
Then they eat your face, never leave a trace
La la la la la, la la la la la, la la la la la"

I, for one, would like to be the first to welcome our giant ant overlords.

And to think I went to all the trouble of poisoning the giant carpenter ants that were pouring out of the walls by the thousands in the last low-rent dump I lived in.

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