The former head of one of China’s biggest asset management companies has been sentenced to death for corruption, in a relatively rare instance of the country meting out the death penalty for financial crimes.
Lai Xiaomin was chairman of Huarong Asset Management at the time of his arrest in 2018. He was found guilty of taking bribes totalling Rmb1.8bn ($279m) over a 10-year period, other acts of corruption and bigamy.
The court in the northern city of Tianjin, where Lai was sentenced on Tuesday, said his crimes “caused serious losses to the interests of the country”.
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