The story appears on

Page A7

August 1, 2009

GET this page in PDF

Free for subscribers

View shopping cart

Related News

Home » Nation

Top court approves death for forgers

CHINA'S Supreme People's Court has approved the death penalties for two men forging a "huge amount" of fake money.

Nearly 70 million yuan (US$10.29 million) worth of the forgeries has not yet been recovered.

The act "has seriously damaged the country's currency and financial regulatory order" and the crime was "extremely grave" and should be severely punished in line with the law, the court's judgment said.

The Intermediate People's Court of Shantou in southern China's Guangdong Province sentenced Xu Shaorong and Zhu Yingwu to death, stripped them of their political rights and confiscated all their personal property.

Investigators found Xu and Zhu had cooperated closely to make counterfeit banknotes from November 2004, with Xu providing the funds and Zhu providing the print facilities and staff and selling the fake money.

Between January and April 2005, a group led by Xu and Zhu manufactured five batches of 1999-version Chinese currency forgeries worth 81.9 million yuan, with the face value of 50 yuan.

From April 12 to 17 that year, Zhu produced 11.06 million yuan of 1999-version fake Renminbi with a face value of 100 yuan, without Xu's knowledge.

Zhu then sold the fake money to others and earned 630,000 yuan in profit.

Police seized 11 boxes of fake money worth nearly 24 million yuan and illegal gains of 180,000 yuan from Xu and Zhu.

The court said the crime "not only disturbs the country's currency distribution order but also damages the reputation of the RMB."

Between 2006 and 2008, Chinese courts dealt with 3,228 forgery cases and sentenced 4,524 people.


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