Top court to review death penalty

BEIJING - China's top court on Tuesday issued a rare but much-awaited statement regarding the final review of a highly controversial death sentence imposed on a former billionaire.

Wu Ying, a 31-year-old businesswoman, was sentenced to death in 2009 by the Jinhua City Intermediate People's Court in East China's Zhejiang province for a Ponzi scheme. Promising high returns for investors, she illegally raised 770 million yuan ($122 million) from 11 lenders from 2005 to 2007. Her appeal to overturn the death sentence was rejected by the Zhejiang High People's Court last month.

According to China's criminal code, Wu will face capital punishment if the top court upholds the judicial decision.