News

One of The Richest Man in the World Executed by China's Government

Published

10 years ago

February 26, 2015

Han was sentenced the Capital punishment in the month of May last year. He was found guilty on 13 articles of the Chinese Criminal Code. He has been allegedly reported to be involved in murder, illegal casinos and arms trafficking. In contrast to the judiciary of the United States, where it is very difficult to be sentenced to death, China has no mercy—even if the person is one of the richest people in the country. Liu Han’s property asset was worth almost $7 billion. He was 148th on the Forbes’ list of the richest people in China. Han’s company, Hanlong Group, founded in 1997, was the largest supplier of iron ore to the world. The company was once fined for 300 million yuan for providing false information to obtain bank loans. According to a Hong-Kong journalist, Han was arrested last year along with thirty five of his associates. All were in the business of selling illegal arms to loansharks, including drug trafficking, running illegal casinos, bribery, murder-for-hire and stock manipulation.
Han had generated over $7 billion of illegal revenue from these activities. After his arrest, the police found a cavalry of weapons from his mansion which comprised of 20 guns, 3 hand grenades, 100 knives, 2100 shotgun cartridges and more than 600 bullets.
This execution has sent a chill down the spine of all the corrupt high ranking officials in China. President Xi Jipning took his anti-corruption campaign to a higher level when he promised that no mercy will be shown even to the prominently corrupt party members.
Reports say that Liu had a link with Zhou Yongkang, a former security Czar. Li had close connections with Zhou and had good business relationship with his son. The senior party officials think that Zhou might be the next in the row of being prosecuted. Zhou was arrested last year in December. He needs to go under a trial for bribery, adultery and revealing States’ secrets.
Meanwhile, China isn’t the only country which has executed the wealthy. Iran is also a country that doesn’t hesitate to execute the riches. Last year in May, Mohammad Amir Khosravi, a businessman was executed. It was just three years ago when he was the richest citizen of Iran having a net worth of $1 billion.