The story appears on

Page A2

December 9, 2009

GET this page in PDF

Free for subscribers

View shopping cart

Related News

Home » Nation

Financier executed, stays silent over cash

A FORMER manager of a securities company was executed in Beijing yesterday - and took to his grave the whereabouts of the 65 million yuan (US$9.52 million) he embezzled.

Yang Yanming, 51, was the first person working in China's securities sector to be executed, the Beijing Evening News reported yesterday.

He once served China Galaxy Securities Co Ltd as general manager of its securities business in Beijing.

Yang said all money he stole was given to officials in bribes but refused to be specific.

"I am willing to take responsibility," Yang said about 9am when he fronted judges before the execution. "If I hadn't attempted to commit suicide, it might not have been discovered."

The newspaper said Yang's final piece of advice was: "Preserve your moral integrity and don't set too much store by business results."

Yang tried to kill himself on April 23, 2004, by cutting his wrists and then switching on kitchen gas. He survived the ensuing gas blast and fire.

His suicide bid sparked a company audit which found nearly 100 million yuan was missing. Of that, 65 million yuan remains a mystery.

Yang's attorney, Qian Lieyang, said if his client was executed those who took the money would escape penalty.

Yang was first sentenced to death by the Beijing No. 1 Intermediate People's Court in December 2005, and then appealed to the Beijing Higher People's Court, which told the court of the first instance to rehear the case in May 2007.

Yang was sentenced to death again in July 2008, and appealed to the higher court a second time in vain.


Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.

沪公网安备 31010602000204号

Email this to your friend