Chinese 'Nick Leeson' rogue trader Wang Caipang sentenced to death after £10m fund scam | Mail Online

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.

Unauthorised trading: Chinese woman Wang Caipang speculated in gold trading - blowing more than £10m

The downfall of the rogue trader is similar to the fate of British broker Nick Leeson, whose fraudulent, speculative trading infamously caused the collapse of Barings Bank.

 

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Chinese 'Nick Leeson' rogue trader Wang Caipang sentenced to death after £10m fund scam | Mail Online