China Executes Ex-Banker Lai Xiaomin In Corruption, Bigamy Case


2021-01-29 12:39:24

China Executes Ex-Banker Lai Xiaomin In Corruption, Bigamy Case

Lai Xiaomin was convicted and sentenced earlier this month

Beijing:

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.

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 as saying, which reviewed and approved the execution order.

The report did not specify how Lai was executed, but said he was allowed to meet with close relatives before his death.

Chinese courts have a conviction rate of over 99 percent, and it is extremely rare for a death sentence to be overturned. The number of executions carried out annually is considered a state secret.

Rights group Amnesty International estimates the country is the top executioner globally, with thousands executed and sentenced to death each year.

Lai was convicted and sentenced earlier this month. The Tianjin court ruled that he had shown “extreme malicious intent” and abused his position to obtain the vast sum.

Newsbeep

He was also found guilty of bigamy after living with a woman “as man and wife for long periods” outside of his marriage and fathering illegitimate children.

Lai was alleged to have used his position to embezzle more than 25 million yuan ($3.8 million) in public funds between 2009 and 2018.

His downfall began in April 2018 as investigators removed him from his job and stripped him of his Communist Party position.

Several high-profile party officials and entrepreneurs have spectacularly fallen from grace in recent years as part of Chinese President Xi Jinping’s anti-corruption purge.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)



Source link

18 Comments

  1. LbsxGroom February 3, 2021
  2. JbbvGroom February 4, 2021
  3. Fvfcsnopy February 5, 2021
  4. AhkdGroom February 5, 2021
  5. Jbnbsting February 6, 2021
  6. FqhhGroom February 8, 2021
  7. KuikEvows February 10, 2021
  8. LabxGroom February 10, 2021
  9. Aqcfcupecteds February 11, 2021
  10. Nncssnopy February 11, 2021
  11. JbbnGroom February 11, 2021
  12. KvaxZece February 12, 2021
  13. AhbzGroom February 12, 2021
  14. Fbsgsnopy February 13, 2021
  15. Jbnvsting February 13, 2021
  16. FqbbGroom February 16, 2021
  17. KndnZece February 27, 2021
  18. FbshGroom April 3, 2021

Leave a Reply