Thursday January 27, 2022

Chinese court sentences ex-banker to death

January 06, 2021

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

Lai Xiaomin, a former Communist Party member, gave a detailed televised confession on state broadcaster CCTV last January, which showed footage of safes and cabinets stuffed with cash in a Beijing apartment allegedly belonging to him.