Corruption in China: former top banker Lai Xiaomin executed for taking US$277 million in bribes

Jan 29, 2021 | INVESTING

China on Friday executed a former top banker accused of taking almost 1.8 billion yuan (US$277 million) worth of bribes, other forms of corruption and bigamy, state media reported.Lai Xiaomin, the former chairman of Huarong, one of China’s largest state-controlled asset management firms, was put to death by a court in the northern city of Tianjin, CCTV said.“The amount of bribes received by Lai Xiaomin was extremely large, the crime’s circumstances were particularly serious and the social…

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