Former China Huarong chairman executed after bribery conviction

In certainly one of China’s highest-profile corruption circumstances, 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 the Secondary Intermediate Individuals’s Court docket of Tianjin.

He was additionally convicted on corruption and bigamy fees.

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

Lai’s “vital meritorious service” was not sufficient to earn him a extra lenient punishment given the “details, nature, circumstances and the diploma of hurt to society” brought on his bribery crimes, the Individuals’s Every day mentioned, citing a assessment the supreme courtroom.

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

Lai was expelled from the Communist Celebration in 2018.

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