Former China Huarong chairman executed after bribery conviction


In certainly one of China’s highest-profile corruption instances, Lai was discovered responsible of receiving or searching for bribes totaling 1.79 billion yuan ($278 million) from 2008-18, when he was additionally a senior banking regulator. He was sentenced on January 5 by the Secondary Intermediate Individuals’s Court docket of Tianjin.

He was additionally convicted on corruption and bigamy costs.

Lai met along with his shut family earlier than the execution was carried out by the Tianjin courtroom on the orders of China’s Supreme Individuals’s Court docket, the newspaper stated.

Lai’s “important meritorious service” was not sufficient to earn him a extra lenient punishment given the “details, nature, circumstances and the diploma of hurt to society” attributable to his bribery crimes, the Individuals’s Every day stated, citing a overview by the supreme courtroom.

President Xi Jinping launched an anti-corruption marketing campaign when he took over management of the ruling Communist Occasion in late 2012. Lots of of officers have since been prosecuted.

Lai was expelled from the Communist Occasion in 2018.

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