Chinese woman sentenced to death in $200M fraud

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Associated Press

Posted on November 5, 2013 at 4:37 AM

Updated Tuesday, Nov 5 at 7:02 AM

BEIJING (AP) — A Chinese court has upheld the death sentence of a businesswoman convicted of cheating investors of $200 million in the second case of its kind this year.

The government's Xinhua News Agency said Su Yenyu's appeal of her conviction was rejected Tuesday by a court in the northern region of Inner Mongolia.

Su, 42, was convicted in January of cheating investors of 1.2 billion yuan ($200 million) after attracting money by promising high returns. It said she diverted 552 million yuan ($87.6 million) to her own use.

The communist government has been cracking down on informal financing that is widely used by entrepreneurs following a wave of defaults.

A businesswoman in southeastern China was sentenced to death in May on charges of stealing 640 million yuan ($100 million) from investors.

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