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China: Top Ex Banker Sentenced To Death For Corruption, Second Marriage


Aizbah KhanWeb Editor

06th Jan, 2021. 12:55 am
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China: Top Banker Sentenced To Death For Corruption, Second Marriage

A Chinese court has sentenced a former banker and party official to death for bribery, embezzlement and Bigamy.

According to the reports of the foreign news agency, the court decision surprised the whole of China.

Former chairman of China’s Big Four asset management company Lai Xiaomin has been charged with more than a dozen charges.

He was accused of accepting a bribe of about  $276.7 million over 10 years.

According to local media, he received the bribe while he was also working as an acting regulator.

The court remarked that he had abused his power and received “extremely large bribes” and that the situation was “particularly serious”.

The court said Lai Xiaomin also took bribes to give people jobs, promotions or contracts.

The court statement said Lai Xiaomin was also accused of remarrying and robbing another woman and her children of the national treasury and embezzling  $25 million.

They committed illegal acts and were extremely greedy. Their personal assets will also be confiscated and their political rights will be taken away, the court statement said.

In 2018, a Chinese court sentenced former intelligence chief Ma Jian to life in prison for other crimes, including corruption.

The Dalian Intermediate People’s Court in Liaoning Province, China, ruled that Ma Jian pleaded guilty to taking bribes, trading internally and forcing others to trade.

Under the ruling, Ma Jian’s political rights were revoked and his personal assets confiscated.

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