April 11, 2012 at 08:04 AM EDT
Shadow Banks on Trial as China’s Rich Sister Faces Death
When a Chinese court sentenced 28- year-old Wu Ying, known as “Rich Sister,” to death for taking $55.7 million from investors without paying them back, it sparked an unexpected firestorm that has drawn in China’s top leadership. Her crime involved a common, illegal practice in China: raising money from the public with promises to pay [...]
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