General
China finance official Lai Xiaomin executed in bribery case
The former head of a Chinese state-owned asset management company has been executed on charges of taking bribes in an unusually severe penalty for a recent corruption case.
Key points:
- The official was one of thousands caught in an anti-graft campaign
- He asked for or collected over $340 million over a decade
- He also had a second family and engaged in sexual dealings with multiple women
Lai Xiaomin of China Huarong Asset Management Co., was among thousands of officials snared in a long-running anti-graft campaign led by President Xi Jinping. Others including China’s former insurance regulator have been sentenced to prison.
Lai, 58, was put to death by a court in Tianjin, east of Beijing, the Government announced.
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