October 24, 2021

Lai Xiaomin: China sentences former Huarong chairman to death for bribery

Lai Xiaomin: China sentences former Huarong chairman to death for bribery

Lai Xiaomin: China sentences former Huarong chairman to death for bribery

By Laura He,
CNN Business
06 January 2021

A Chinese court has sentenced the former chairman of a huge state-owned financial company to death after finding him guilty of bribery. It’s a rare use of the most severe punishment in a long-running crackdown by Beijing on corruption.

Lai Xiaomin — who used to chair China Huarong Asset Management — was guilty of taking or seeking bribes totaling nearly 1.8 billion yuan ($277 million), a court in the port city of Tianjin said on Tuesday. Chinese state media reported in August that he pleaded guilty at an earlier hearing in the case.

READ FULL ARTICLE

About Author

CNN

Leave a Reply

Your email address will not be published. Required fields are marked *