China Sentences 6 Bankers To Death For Looting.

Political Vel Craft

China‘s Executions procedure:

The execution protocol is defined on the criminal procedure law, under article 212:^[6]

Before a people’s court executes a death sentence, it shall notify the people’s procuratorate at the same level to send personnel to supervise the execution.
Death sentences shall be executed by means of shooting or injection.  

Death sentences may be executed at the execution ground or in designated places of custody.

The judicial personnel directing the execution shall verify the identity of the criminal offender, ask him if he has any last words or letters, and then deliver him to the executioner for the death sentence. If, before the execution, it is found that there may be an error, the execution shall be suspended and the matter shall be reported to the Supreme People’s Court for decision.

Execution of death sentences shall be announced to the public, but shall not be held in public.

The attending court clerk shall, after the execution of a death sentence, make a written record thereon. The people’s court that caused the death sentence to be executed shall submit a report on the execution to the Supreme People’s Court.

The people’s court that caused the death sentence to be executed shall, after the execution, notify the family of the criminal offender.

Wikipedia

In some areas of China, there is no specific execution ground. A scout team chooses a place in advance to serve as the execution ground. In such case, the execution ground normally will have three perimeters: the innermost 50 meters is the responsibility of the execution team; the 200 meter radius from the center is the responsibility of the People’s Armed Police; and the 2 km alert line is the responsibility of the local police. The public is generally not allowed to view the execution.

The role of the executioner was fulfilled in the past by the People’s Armed Police. In recent times, the legal police force (Chinese: 法警; pinyin: fǎ jǐng) assumed this role.

China currently uses two methods of execution. Since 1949, the most common method was execution by firing squad, which has been largely superseded by lethal injection, using the same three-drug cocktail pioneered by the United States, introduced in 1997. Execution vans are unique to China though.

Lethal injection is more commonly used for “economic crimes”, such as corruption, while firing squads are used for more common crimes likemurder.

There is a general trend towards moving to lethal injection, though. The cost of a lethal injection is cheaper, and according to a court official in Kunming, it lessens the risk of HIV in the cleanup of the firing squad. This method is promoted by the Central People’s Government as less painful and more humane, and it plans to phase out the use of firing squads by 2010.^[7]

A real estate tycoon in Lishui, Zhejiang Province, has received a death sentence for illegally raising 5.5 billion yuan ($800 million) from the public, reported the Procuratorial Daily on Monday.

Ji Wenhua, the president and legal representative of Lishui Yintai Real EstateInvestment Company, was found guilty of fraudulent fund raising and embezzlement.

Five other shareholders and senior managers from the Lishui Yintai group receiveddeath sentences with reprieves and imprisonment.

Lishui Yintai Real Estate Investment Company Group was founded in 2002. It has several subsidiaries and branches in Zhejiang, Jiangxi and Hunan provinces.

From 2003 to 2008, Lishui Yintai real estate group concealed its continual losses while using advertising to convince the public it was profiting.

In order to continue operating, Ji and his accomplices raised funds from investors in Zhejiang and Hunan, knowing the company was unable to fulfill the contract.

As of 2008, when Ji and his accomplices were arrested, Lishui Yintai had raised 5.5 billion yuan from the public through fraudulent methods, the court said.

The intensified national macro policies in 2008 were a major cause of the capital chain break of the group, said Zheshang magazine.

During the depression of the real estate industry in 2008, moneylenders began calling their loans from the real estate industry.

Lishui Yintai group faced the same difficulty.

In addition, the procuratorate found Ji and the senior managers accused led a lavish life relying on the money they raised from stockholders. It was submitted as evidence of illegal fundraising with purpose, said Zheshang magazine.

Zhou Lei, a lawyer from Beijing-based Jianhao Law Firm, said it is illegal to raise funds from the public without the legally prescribed conditions and procedures.

“The real estate industry requires a large amount of money to ensure construction,” Zhou said. “When the debt is due, they are inclined to raise funds to avoid going into receivership.”

GlobalTimes

http://politicalvelcraft.org/2013/07/31/china-sentences-6-bankers-to-death-for-looting/