Yilishen Tianxi Group

Jobless widow 240,000 yuan out of pocket in ant-breeding scam

Last July, 41-year-old widow and laid-off worker Zhang Liyun borrowed 240,000 yuan from relatives and friends to be a contract ant breeder for the Yilishen Tianxi Group, an aphrodisiac tonic maker based in Liaoning province.

Monday, 7 January, 2008, 12:00am

Pillar of community falls from his perch

Wang Fengyou, the chairman of the Yilishen Tianxi Group who is in custody for allegedly instigating social unrest, took a long and winding road to become the 'King of Ants'.

Born into a poor farmer's family in a small village in Fushun , Liaoning , the 45-year-old made a living after finishing middle school by opening a tofu shop.

7 Jan 2008 - 12:00am

Get-rich mentality puts poorest at risk

Rapidly developing countries tend to create big wealth gaps, with most people on the wrong side of them. None compare with modern China in creating enormous personal wealth and prosperity. But the vast majority of its people are yet to experience it. Many have-nots see people becoming wealthy overnight, not by working hard and saving up but by risk-taking, luck and using official connections.

7 Jan 2008 - 12:00am

Officials blamed in ant-potion scandal

The Liaoning government should take the blame for the controversy surrounding the bankruptcy of a company that produced and sold a well-known aphrodisiac made from ants in what officials are calling a pyramid scheme, victims and rights activist said yesterday.

The scheme is believed to involve at least 10 billion yuan and a million investors.

14 Dec 2007 - 12:00am