“Female Billionaire” Wu Ying’s Illegal Fundraising Case

• Author: China Law Digest compiled news

Wu Ying, born in 1981, previously a farmer in Dongyang City, Zhejiang Province, was the legal representative of Zhejiang Bense Holding Group Co., Ltd. In 2003, she spent 20,000 RMB to open a beauty salon and by 2006, she became China’s youngest female billionaire. In December 2009, Jinhua City Intermediate People’s Court sentenced Wu Ying to death at first instance on the charge of fraudulent fundraising. On January 18, 2012, the Zhejiang Province High People’s Court dismissed Wu Ying’s appeal and upheld the conviction. Wu Ying appealed to the Supreme People’s Court.

The court ruled that between May 2005 and February 2007, Wu Ying raised 770 millions RMB...