Female White-Collar Crime Divas-Mordern Day Thieves

$485 Million-Woman Repatriated to China

chineseThe US government convicted and jailed Kuang Wanfang, from China, for her part in a scam that stole over $485 million from a state-run Chinses bank. Ms. Wanfang was repatriated to China even though the two countries have no extradition treaty.

Ms. Wanfang, a Bank of China manager, and three co-conspirators were convicted in 2008 for a scheme to defraud the Bank of China of at least $485 million, according to records, The arrest came about after they were caught laundering money through casinos in Las Vegas.

Ms. Wanfang was sentenced to eight years in prison and authorities began moves to strip her of her fraudulently acquired US citizenship. Ms. Wanfang could be facing the death penalty in China, as white-collar crimes are subject to the death penalty. China is the world’s biggest executioner.

 The deportation of foreigners convicted of crimes in the US is general practice. However, it makes little sense to me that the US taxpayers should shoulder the burden of incarcerating them. This woman was sentenced to eight years in US prison, and then deported to China. It costs an average of $50,000 annually to house a prisoner. These funds should be used to better our education system. If the government is going to deport, then deport them and save US taxpayers money for more purposes that are useful.


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Check-pointDecember 31st, 2016
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