BEIJING (AFP) - China on Friday (Jan 29) executed a former top banker accused of taking US$260 million (S$344.9 million) worth of bribes, as well as other forms of corruption and bigamy, state broadcaster CCTV reported.
Lai Xiaomin, the former chairman of Huarong - one of China's largest state-controlled asset management firms - was put to death by a court in the northern city of Tianjin, CCTV said.
"The amount of bribes received by Lai Xiaomin was extremely large, the crime's circumstances were particularly serious and the social impact was particularly severe," CCTV quoted the Chinese Supreme People's Court, which reviewed and approved the execution order, as saying.