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January 15, 2007

News & Opinion: Daily Dose of The Executive Almanac Part 5

By: Jack @ 3:25 PM – Filed under: Current Events & Public Affairs

Today's Dose of The Executive Almanac:
How to Deal with White-Collar Crime
"In September 2004, the Chinese government executed four bank executives for fraud totaling $15 million. The two banks involved were state-owned entities. Wang Liming, an accounting officer at China Construction Bank, was put to death, along with an accomplice, Miao Ping, for stealing 20 million yuan (about $2.4 million) from the bank. Another employee at China Construction, Wang Xiag, was executed for stealing another 20 million yuan in an unrelated case. The fourth man executed was Liang Shihan, an official at Bank of China's branch in the southern city of Zhuhai. He was accused of stealing $10.3 million.
China executes more criminals than the rest of the world combined."