Top Biz News

Securities trader executed

(China Daily)
Updated: 2009-12-09 07:52

China yesterday executed the former manager of a securities company who embezzled millions of dollars - the first execution of an executive from the country's financial sector, Xinhua said.

Related readings:  Foreign insurers in JVs with local money managers  Banks' rush for capital may trip markets  China Merchants Securities makes weak debut  Haitong Securities in bid for HK's Tai Fook Securities

Some wanted Yang Yanming to be kept alive so he would explain where the 65 million yuan ($9.5 million) went, news reports said.

Yang, 51, served as general manager of the Beijing securities trading department of China Great Wall Trust and Investment Corp from 1997 to 2003. He was sentenced to death in Dec, 2005.

The Beijing Evening News said Yang was the first person from a Chinese securities company to be executed.

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