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China sentences ex-banker to death


Eldorado

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The former chairman of one of China's largest state-controlled asset management firms was sentenced to death Tuesday for soliciting $260 million in bribes, corruption and bigamy.

Lai Xiaomin, a former Communist Party member, gave a detailed confession on state broadcaster CCTV in January 2020, with footage of a Beijing apartment reportedly belonging to Lai replete with safes and cabinets stuffed with stacks of cash.

Lai had abused his position in attempting to obtain the vast sum, the court in Tianjin said, describing the bribes as "extremely large" and calling the circumstances "particularly serious".

Full AFP report at Yahoo: Link

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China on Friday executed a former top banker accused of taking $260 million worth of bribes, other forms of corruption and bigamy, state broadcaster CCTV reported.

MSN

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