[ad_1]
Lai Xiaomin, the former head of an investment fund accused of taking bribes worth more than 215 million euros, was executed this morning, Chinese public television reported.
Lai was sentenced to death in early January, a sentence rarely imposed on economic leaders in China. The court also found him guilty of “polygamy”.
The court accused him of accepting 215 million euros in bribes and trying to get another 13 million. He was also found guilty of embezzlement of 3.1 million euros in public money.
The sums were “extremely significant, the circumstances very serious and the intentions extremely malicious,” the Tianjin (North China) court said in its verdict.
The group leader from China Huarong, for whom it is unknown how he was executed, was also found guilty of “living for a long time with other women”, in addition to his marriage, with whom he had “illegitimate children”.
In January 2020 he had made bonds that had been broadcast on public television CCTV.
At the time, images were also broadcast of a Beijing-owned apartment with treasures and closets full of wads of banknotes.
Lai Xiaomin, who previously worked at the central bank and for the authority that oversees Chinese banks, said “not a penny had been spent.”
“I did not dare to spend” the money, he said.
Television had also broadcast images of luxury cars and gold plates that the defendants had allegedly accepted as bribes.
China Huarong Asset Management Investment Fund is one of the largest sub-prime credit managers in China, meaning those most likely to default.
China launched a large-scale anti-corruption campaign in 2012, following the appointment of President Xi Jinping as the leader of the Chinese Communist Party. Since then, more than 1.5 million CCP executives have been convicted.
Source: ΑΠΕ-ΜΠΕ
