Businesswoman Punished for Fraud in West China

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Last updated at: (Beijing Time) Friday, May 23, 2003

Businesswoman Punished for Fraud in West China

A businesswoman in northwest China's Shaanxi Province was sentenced to death with a two-year suspensionon Thursday for fraudulently obtaining a total of 8.31 million yuan (1 million US dollars).

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A businesswoman in northwest China's Shaanxi Province was sentenced to death with a two-year suspensionon Thursday for fraudulently obtaining a total of 8.31 million yuan (1 million US dollars).

Yang Nianhong, 52, former head of the Shaanxi Sangmao Trade Company, had obtained the funds since 1998 using fake seals, accounts and documents, according to the Xi'an Intermediate People's Court.

The court found that Yang had cheated more than 120 people and some local institutions with the lure of exorbitant interest rates.

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