Thursday, December 2, 2021

Chinese court sentences ex-banker to death

BEIJING: The former chairman of one of China’s largest state-controlled asset management firms was sentenced to death on Tuesday for soliciting $260 million in bribes, corruption, and also bigamy.

Lai Xiaomin, a former Communist Party member, gave a detailed televised confession on state broadcaster CCTV last January, which showed footage of safes and cabinets stuffed with cash in a Beijing apartment allegedly belonging to him.

Source: The News

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