Chinese court sentences former banker to death
‘MALICIOUS INTENT’: A court ruled to confiscate the assets of Lai Xiaomin, who was found guilty of bribery, as well as bigamy and fathering illegitimate children
AFP, BEIJING
A former chairman of one of China’s largest state-controlled asset management firms was on Tuesday sentenced to death for soliciting US$260 million in bribes, corruption and also bigamy.
Lai Xiaomin (賴小民), a former Chinese Communist Party member, in January last year gave a detailed confession on China Central Television (CCTV), which showed footage of safes and cabinets stuffed with cash in a Beijing apartment allegedly belonging to him.