• 09 Apr 2012 at 2:06 PM

Chinese Rogue Trader Sentenced To Death (But Not Really)

By

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]

Comments (31)

  1. 1
    Posted by AIG Quant via LEH | April 9, 2012 at 2:09 PM

    Need more of that at UBS.

  2. 2
    Posted by Al Czervik | April 9, 2012 at 2:12 PM

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

  3. 3
    Posted by Bandersnatch | April 9, 2012 at 2:14 PM

    jail time then death = life in prison

  4. 4
    Posted by Guest | April 9, 2012 at 2:20 PM

    I fucking love Jackie Mason!

  5. 5
    Posted by H. Moody | April 9, 2012 at 2:32 PM

    My Jewish?

  6. 6
    Posted by Banter | April 9, 2012 at 2:42 PM

    "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.

  7. 7
    Posted by guest | April 9, 2012 at 2:53 PM

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

    - K. Adoboli

  8. 8
    Posted by PermaGuestII | April 9, 2012 at 2:53 PM

    death > life in a Chinese prison

  9. 9
    Posted by Jack_Brown | April 9, 2012 at 3:00 PM

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

    Your good friend,
    -Jonny Corzine

  10. 10
    Posted by trojan_ | April 9, 2012 at 3:09 PM

    In mercantilist China, the NKI really is the NKI

  11. 11
    Posted by Rodney Dangerfield | April 9, 2012 at 3:19 PM

    … and this is my friend Wang.. No offense

  12. 12
    Posted by Tyler D. | April 9, 2012 at 3:26 PM

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

  13. 13
    Posted by Guest | April 9, 2012 at 3:28 PM

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

  14. 14
    Posted by Guest | April 9, 2012 at 3:33 PM

    Amateur.
    -N. Leeson

  15. 15
    Posted by b wayne | April 9, 2012 at 3:38 PM

    actually, if you play your cards right, chinese prison turns you into batman

  16. 16
    Posted by Texashedge | April 9, 2012 at 3:40 PM

    "Caiping, who must first serve two years in prison, borrowed huge sums of money promising to buy property"

    Should have bought land next to the Great Wall…on the good side!

  17. 17
    Posted by UBS Analyst | April 9, 2012 at 3:42 PM

    What would playing cards have to do with it? I've seen Batman & Robin (with Chris O'Donnel, love that guy) dozens of times and don't remember anything about Chinese prison.

    -UBS Movie Critic Quant

  18. 18
    Posted by Comment Analsyst | April 9, 2012 at 3:42 PM

    Feel free to stop at anytime.

  19. 19
    Posted by Bartleby | April 9, 2012 at 3:43 PM

    Death > Life in Chinese Prison > Back office UBS job in Weehawken > doing what I do

  20. 20
    Posted by B. Madoff | April 9, 2012 at 3:43 PM

    Same to you.

  21. 21
    Posted by HR Quant | April 9, 2012 at 3:45 PM

    >RBS?

  22. 22
    Posted by Guest | April 9, 2012 at 4:00 PM

    In Soviet China, mongoloid forehead faces palm!

  23. 23
    Posted by HAM05 | April 9, 2012 at 4:06 PM

    > scrivener, duh

  24. 24
    Posted by L. Tilton | April 9, 2012 at 5:01 PM

    Two wangs always make a right.

  25. 25
    Posted by John P. | April 9, 2012 at 5:14 PM

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

  26. 26
    Posted by 25th Hour Trader | April 9, 2012 at 6:44 PM

    "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.

  27. 27
    Posted by Guest | April 9, 2012 at 7:21 PM

    So long as you have fun tonight!

  28. 28
    Posted by You know who | April 9, 2012 at 8:08 PM

    Everybody Wang Chung tonight

  29. 29
    Posted by Guest | April 9, 2012 at 10:14 PM

    Shouldn't you be working on avoiding the hookers on the left, Tiger?
    -S Foley

  30. 30
    Posted by guest | April 9, 2012 at 11:01 PM

    well that sucks…

  31. 31
    Posted by cheap bookmarking service | September 12, 2012 at 9:39 AM

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