October 4, 2003
Liaoning Province, China
Wang Xing is killed in a murder-for-hire orchestrated by Yuan Baojing
In 1997, Baojing lost millions of yuan in the futures market which he blamed on another billionaire, Liu Han. Wang, who was a corrupt police officer at the time, suggested Baojing hire a hitman to kill Liu, and acted as an intermediary between Baojing and hitman Li Haiyang. Li missed his target, he was arrested, and sentenced to life imprisonment.
After the failed assassination of Liu, Wang began to attempt to blackmail Baojing.
Baojing discussed his blackmailing issue with his brother, Yuan Baoqi, who similarly suggested Baojing hire someone to kill Wang. Baojing hired two of his cousins, Yuan Baofu and Yuan Boasen, to carry out the murder, playing them ¥300,000 (approximately $42,000) to kill Wang. On November 15, 2001, Baofu and Boasen attacked Wang, stabbing him repeatedly. Though seriously wounded, Wang survived.
Wang again tried to extort money from Baojing in 2003, and Baofu and Baosen were again recruited to kill him. Wang was shot to death on October 4, 2003.
Baojing, his brother Baoqi, and their cousins Baofu and Baosen were tried and convicted of Wang’s murder. All but Baofu were sentenced to death, to be carried out on October 14, 2005. When the execution date passed without the sentence being fulfilled, it was discovered Baojing’s wife had transferred approximately ¥49.5 billion (nearly $7 billion) in ownership of shares to the Chinese government. The possible corruption was heavily criticized and Baojing’s temporary reprieve from execution came to an end on March 17, 2006. He attended court in a white tracksuit and long scarf, was informed of his immediate execution, and was killed by lethal injection 15 minutes after the accompanying picture was taken. Joining him in death were his brother and their cousin Baosen.
Baofu’s execution was suspended for two years. If, during that time he was a model prisoner, he would be eligible to have his sentence commuted to life imprisonment. I could find no current information on whether or not Baofu managed to avoid execution.
Coonan, Clifford. “Chinese millionaire found guilty of murder executed.” The Irish Times. March 20, 2006. Accessed: October 4, 2019. https://www.irishtimes.com/news/chinese-millionaire-found-guilty-of-murder-executed-1.1030445
“Billionaire executed for murder.” China Daily. March 18, 2006. Accessed: October 4, 2019. http://www.chinadaily.com.cn/china/2006-03/18/content_545146.htm
Spencer, Richard. “Tycoon ‘paid £3 bn for stay of execution’.” November 12, 2005. Accessed: October 4, 2019. https://www.telegraph.co.uk/news/worldnews/asia/china/1502808/Tycoon-paid-3-bn-for-stay-of-execution.html