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China Executes Rogue Trader

Dec 8, 2009, 10:56 PM Jerome Kerveil is lucky he’s in France and not China.

Reuters: China on Tuesday executed a former securities trader for embezzlement, the first person in the industry to be put to death, but millions of yuan are still missing, a state newspaper said.

Yang Yanming was sentenced to death in late 2005 and took the secret of the whereabouts of 65 million yuan ($9.52 million) of the misappropriated funds to his grave, the Beijing Evening News said.

China, obviously, has a long track record of executing non-violent business professionals, though this is apparently its first in the securities industry.

However, as that industry grows, and if China doesn’t reform its capital punishment laws, this definitely won’t be the last.





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