{"id":166923,"date":"2021-01-30T00:24:13","date_gmt":"2021-01-29T21:24:13","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/china-asset-management-chief-lai-xiaomin-executed-in-bribery-case\/"},"modified":"2021-01-30T00:24:13","modified_gmt":"2021-01-29T21:24:13","slug":"china-asset-management-chief-lai-xiaomin-executed-in-bribery-case","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/china-asset-management-chief-lai-xiaomin-executed-in-bribery-case\/","title":{"rendered":"#China asset management chief Lai Xiaomin executed in bribery case"},"content":{"rendered":"

“#China asset management chief Lai Xiaomin executed in bribery case<\/strong>”
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The former head of a Chinese state-owned asset management company was executed Friday on charges of taking bribes in an unusually severe penalty for a recent corruption case.<\/p>\n

Lai Xiaomin of China Huarong Asset Management was among thousands of officials snared in a long-running anti-graft campaign led by President Xi Jinping. Others including China\u2019s former insurance regulator have been sentenced to prison.<\/p>\n

Lai, 58, was put to death by a court in Tianjin, east of Beijing, the government announced.<\/p>\n

The Second Intermedia<\/a>te People\u2019s Court of Tianjin ruled in January that death was justified because Lai took \u201cespecially enormous\u201d bribes to make investments, offer construction contracts, help with promotions and provide other favors.<\/p>\n

Lai asked for or collected 1.8 billion yuan ($260 million) over a decade, the court said. It said one bribe exceeded 600 million yuan ($93 million). He was also convicted of embezzling more than 25 million yuan ($4 million) and starting a second family while still married to his first wife.<\/p>\n

Lai \u201cendangered national financial security and financial stability,\u201d said a commentary on the state TV website.<\/p>\n

The death penalty \u201cwas his own responsibility, and he deserved it,\u201d the commentary said.<\/p>\n

Most death sentences imposed by Chinese courts are suspended for two years and usually are commuted to life. Death penalties without the chance of a reprieve are rare.<\/p>\n

Huarong is one of four entities created in the 1990s to buy nonperforming loans from government-owned banks. They expanded into banking, insurance, real estate finance and other fields.<\/p>\n

Lai was placed under investigation by the ruling Communist Party\u2019s anti-corruption watchdog in 2018 and expelled from the party later the same year.<\/p>\n

Lai also was accused of squandering public money, illegally organizing banquets, engaging in sexual dealings with multiple women and taking bribes, the anti-corruption agency said in 2018.<\/p>\n

Investigators seized hundreds of millions of yuan (tens of millions of dollars) in cash from Lai\u2019s properties, the Chinese business news<\/a> magazine Caixin reported in 2018.\n <\/p><\/div>\n

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Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“#China asset management chief Lai Xiaomin executed in bribery case” The former head of a Chinese state-owned asset management company was executed Friday on charges of taking bribes in an unusually severe penalty for a recent corruption case. Lai Xiaomin of China Huarong Asset Management was among thousands of officials snared in a long-running anti-graft…<\/p>\n","protected":false},"author":1,"featured_media":166924,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2021\/01\/china-executes-finance-exec.jpg?quality=90&strip=all&w=1200","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[91277,71478,4973,70673,82036,71007],"class_list":["post-166923","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-1-29-21","tag-bribery","tag-china","tag-corruption","tag-death-penalty","tag-scandals"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/166923","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=166923"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/166923\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/166924"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=166923"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=166923"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=166923"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}