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2021-01-29 15:35:46 GMT2021-01-29 23:35:46(Beijing Time) Xinhua English
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TIANJIN, Jan. 29 (Xinhua) China on Friday executed a corrupt former state-owned financial firm executive in a case whose graft sum set a record in the history of the People s Republic of China.
Lai Xiaomin, who took a staggering sum of bribes totaling over 1.78 billion yuan (about 276 million U.S. dollars), was executed by the Second Municipal Intermediate People s Court of Tianjin after being approved by the top court.
Lai, former board chairman of China Huarong Asset Management Co., Ltd., was convicted of bribery, embezzlement, and bigamy on Jan. 5. He was sentenced to death, with political rights deprived for life and all his assets confiscated.
Lai Xiaomin executed for corruption after review from top court By Cao Yin | chinadaily.com.cn | Updated: 2021-01-29 18:10 Share CLOSE
Lai Xiaomin, former chairman of China Huarong Asset Managment Co Ltd, was executed for corruption on Friday after his death sentence was approved by the top court.
Lai was convicted of bribery, embezzlement and bigamy by a local court in Tianjin on Jan 5. The court sentenced Lai to death, deprived Lai of his political rights for life and confiscated all his assets.
Lai appealed, but the Higher People s Court of Tianjin later ruled the facts in the first trial were clear, the evidence was sufficient, the sentence appropriate and the trial was conducted per due procedures.
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