China executes man for ant-breeding scheme

China has executed a businessman convicted of bilking thousands of investors out of $416 million in a bogus ant-breeding scheme, state media reported Thursday. The official Xinhua News Agency said Wang Zhendong, who was found guilty of fraud and sentenced to death in February last year, was executed in north China's Liaoning province on Wednesday. The death penalty is used broadly in China. Though usually reserved for violent crimes, it is also applied for nonviolent offenses that involve large sums of money or if they are seen to threaten social order.

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