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Chinese Rogue Trader Sentenced To Death (But Not Really)

A Chinese rogue trader who ‘cheated’ investors on her way to losing £10m in gold trading has been sentenced to death today. The 30-year-old Wang Caipang was handed the sentence by a court in Wenzhou in east China after she borrowed the cash between January and October 2010. Caiping, who must first serve two years in prison, borrowed huge sums of money promising to buy equipment, invest in property and open credit guarantee firms, but instead used the cash to speculate in futures and gold trading along with her elder brother, Wang Guanglin, who is still at large…In China, a sentence of jail time then death usually means the punishment will be reduced to life in prison. [DM via Dealbook]

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31 Responses to “Chinese Rogue Trader Sentenced To Death (But Not Really)”

  1. AIG Quant via LEH says:

    Need more of that at UBS.

  2. Al Czervik says:

    I hear this place is restricted, Wang, so don't tell 'em your Jewish, okay?

  3. Bandersnatch says:

    jail time then death = life in prison

  4. Banter says:

    "In China, a sentence of jail time then death usually means the punishment will be reduced to life in prison."

    In America, a sentence of jail time then death usually means you're having a nightmare about being in China.

  5. guest says:

    lesson: if you want to go rogue, work at UBS because they won't catch you until you lose $2B

    – K. Adoboli

  6. Jack_Brown says:

    Hey now, let's not go ahead and get any ideas from this.

    Your good friend,
    -Jonny Corzine

  7. Rodney Dangerfield says:

    … and this is my friend Wang.. No offense

  8. Tyler D. says:

    In the United Puppetry-Sham of America we call that business…and margin…and stuff…and god Im so tired of this…

  9. Guest says:

    I guess they're not kidding when they say two Wangs don't make a right.

  10. Guest says:

    Amateur.
    -N. Leeson

  11. Guest says:

    In Soviet China, mongoloid forehead faces palm!

  12. John P. says:

    Were any prison sentences handed out for fraudulent depictions of timberland?

  13. 25th Hour Trader says:

    "her elder brother, Wang Guanglin, who is still at large…"

    Umm…I think he'll be at large for a long time unless he wants his birth certificate canceled like his younger brother.

    – Failed escape artist who faked his own death only to be discovered a week later at Denny's.

  14. guest says:

    well that sucks…

  15. Fd96OC I really liked your article.Really looking forward to read more. Much obliged.

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