Woman boss gets death penalty for fraud in east China
Updated: 2008-03-22 15:24
HANGZHOU - A woman boss of a beauty parlor has been sentenced to death in east China's Zhejiang Province, convicted of fraud and illegally raising fund of more than 700 million yuan (100 million US dollars), a local court has said.
Du Yimin, 43, was charged with collecting the huge amount of money illegally by promising high returns to her 67 creditors from 2003 to July 2006, according to the Intermediate People's Court in Lishui, Zhejiang.
In addition, hundreds of other investors had been attracted by the lucrative returns -- ranging from 1.8 to 10 percent per month -- and channeled funds into Du's company through her 67 creditors, the court heard.
Many victims had not even seen Du, who was nicknamed "Little Girl", before she was arrested in July 2006, it heard.
Du spent much of the money she had amassed on purchasing apartments and cars and on other luxury items, the court heard.
Du said she would lodge an appeal.
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