Monday, December 1, 2008

Antphrodesiac

China has executed the leader of a bogus scheme for breeding ants to make aphrodisiacs that conned investors out of $439 million. Either the Chinese are stupid as hell or this was the mother of all scams.

The fictitious ant-breeding project that Wang Zhendong fronted features prominently in posters and other government educational materials warning of the risks of pyramid schemes and other investment schemes that sound too good to be true. And his execution pretty much seals the deal on convincing people it's a bad choice

Wang promised investors in the fictitious project returns of up to 60%. The ants were to be used for making liquor, herbal remedies and aphrodisiacs. One investor committed suicide after realizing he had been duped, while many others suffered from depression, which, ironically would have been helped by the product they were duped by. No word on how Wang was executed, but it would have been terrific if he was put on a mound of carnivorous fire ants..

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