• Ex-tycoon Wu Ying spared capital punishment

The Higher People's Court (HPC) in east China's Zhejiang province on May 21 handed businesswoman Wu Ying a death penalty with a two-year reprieve for fundraising fraud after retrial.

The court also ordered that all Wu's personal property be confiscated, and stripped her of political rights for life in final judgement.

In December 2009, Wu, the 31-year-old former owner of the Zhejiang-based Bense Holding Group, was sentenced to death by the Jinhua Intermediate People's Court for cheating investors out of 60.2 million U.S. dollars. [Full story]

 Related stories:

 • Court rules in favor of jailed tycoon in property cases

 • Court hears complaints of jailed tycoon Wu Ying

 • Wu Ying case underlines need for private financing reform