March 26th, 2009
09:59 AM ET

If you're in China, Madoff is lucky

[cnn-photo-caption image=http://i2.cdn.turner.com/cnn/2009/images/03/26/art.market.anon.jpg]

John Vause
CNN Beijing Correspondent

While Bernie Madoff sits behind bars, contemplating life in prison perhaps he should consider himself lucky.

State media in China is reporting Thursday that Gao Qiuhe has been sentenced to death for a swindle which fraudulently promised high returns.

How much did Gao get away with? Just $17 million – spare change in the world of Madoff.

She was arrested in 2007, and when she couldn't give back the money, she was sentenced to death last week and all her assets were confiscated.

And this might be something for the Madoff family to consider – Gao's son, Bao Jianshu was sentenced to eight years in prison for helping his mother.

Filed under: John Vause
soundoff (3 Responses)
  1. earle,florida

    Please note: When the Chinese execute it's not just a few, but more like a couple of dozens of convicted criminals,and each has a doctor,and ambulance by their site to "harvest (all) their organs" immediately to be sold,or used for the powerful who need transplants,...Nice huh! Our most favored trading partner,that "Wall Street" constantly praises?

    March 26, 2009 at 4:38 pm |
  2. Jim

    Maybe we should be more like China when it comes to dealing with Crime- How about compairing our Crime rate to that of China's Bet you theirs is a LOT less.

    March 26, 2009 at 12:53 pm |
  3. Michael "C" Lorton, Virginia

    It is a primitive sentence for Gao Qiuhe ---but an effective deterent--but it does not undo the damages that have been done--and as for Bernie "Made-Off"---he is a "dead man walking."

    March 26, 2009 at 12:22 pm |