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Now this is SEC reform you can sink your teeth into...
China executes bank staff for fraud
BEIJING (Reuters) - China executed four people, including employees of two of its Big Four state-owned banks, for fraud totaling $15 million, the state Xinhua news agency said Tuesday.
The executions occurred in the midst a high-profile government campaign against financial crime. They followed a string of arrests in white-collar crime as China prepares to sell shares publicly in its big banks.
Yes, boys and girls, they were executed for white-collar fraud. Too bad Enron didn't have a China branch, no? :)
I think the last time something like this happened in Western society, we ended up with the phrase 'a baker's dozen'.
BEIJING (Reuters) - China executed four people, including employees of two of its Big Four state-owned banks, for fraud totaling $15 million, the state Xinhua news agency said Tuesday.
The executions occurred in the midst a high-profile government campaign against financial crime. They followed a string of arrests in white-collar crime as China prepares to sell shares publicly in its big banks.
Yes, boys and girls, they were executed for white-collar fraud. Too bad Enron didn't have a China branch, no? :)
I think the last time something like this happened in Western society, we ended up with the phrase 'a baker's dozen'.