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Ant Farm Con Man Gets Death

Fraudulent sales of "medicinal ants" earned him $400 million
By J. Kelman,  Newser User
Posted Mar 21, 2007 3:13 PM CDT

(Newser) – A pyramid scheme built on an ant farm earned a Chinese entrepreneur over $400 million—and a death sentence. The sentence meted out to Wang Zhendong by a Chinese court last month is part of a nationwide crackdown on fraud. Wang swindled thousands of people by misrepresenting his wares as rare, medicinal ants, when in fact they were just…ants.

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Victims tricked into putting their savings into ant futures were pleased by the verdict. Zhou Ping invested $6,500 she was saving for her daughter’s wedding. "He should just die. He hurt so many people," she says. (Read more China stories.)

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