{"id":3097,"date":"2021-01-29T14:30:41","date_gmt":"2021-01-29T14:30:41","guid":{"rendered":"https:\/\/dailyrapidnews.com\/eng\/?p=3097"},"modified":"2021-01-29T14:30:41","modified_gmt":"2021-01-29T14:30:41","slug":"china-executes-ex-banker-in-bribes-bigamy-case","status":"publish","type":"post","link":"https:\/\/dailyrapidnews.com\/eng\/2021\/01\/29\/china-executes-ex-banker-in-bribes-bigamy-case\/","title":{"rendered":"China executes ex-banker in bribes, bigamy case"},"content":{"rendered":"

China\u00a0on Friday executed a former top banker accused of taking $260 million worth of bribes, other forms of corruption and bigamy, state broadcaster\u00a0CCTV<\/em>\u00a0reported.<\/p>\n

Lai Xiaomin, the former chairman of Huarong \u2014 one of China’s largest state-controlled asset management firms \u2014 was put to death by a court in the northern city of Tianjin,\u00a0CCTV<\/em>\u00a0said.<\/p>\n

“The amount of bribes received by Lai Xiaomin was extremely large, the crime’s circumstances were particularly serious and the social impact was particularly severe,”\u00a0CCTV<\/em>\u00a0quoted the Chinese Supreme People’s Court as saying, which reviewed and approved the execution order.<\/p>\n

\"a-person-wearing-a-military-uniform-lai-xiaomin-a-chinese-former-top-banker-shown-here-at-a-hearing-_rapid-news-rapidnews-China-executes-ex-banker-in-bribes-bigamy-case-dailyrapidnews\"<\/p>\n

The report did not specify how Lai was executed, but said he was allowed to meet with close relatives before his death.<\/p>\n

Chinese courts have a conviction rate of over 99 per cent, and it is extremely rare for a death sentence to be overturned. The number of executions carried out annually is considered a state secret.<\/p>\n

Rights group Amnesty International estimates the country is the top executioner globally, with thousands executed and sentenced to death each year.<\/p>\n

Lai was convicted and sentenced earlier this month. The Tianjin court ruled that he had shown “extreme malicious intent” and abused his position to obtain the vast sum.<\/p>\n

He was also found guilty of bigamy after living with a woman “as man and wife for long periods” outside of his marriage and fathering illegitimate children.<\/p>\n

Lai was alleged to have used his position to embezzle more than 25 million yuan ($3.8 million) in public funds between 2009 and 2018.<\/p>\n

His downfall began in April 2018 as investigators removed him from his job and stripped him of his Communist Party position.<\/p>\n

Several high-profile party officials and entrepreneurs have spectacularly fallen from grace in recent years as part of Chinese President Xi Jinping’s anti-corruption purge.<\/p>\n","protected":false},"excerpt":{"rendered":"

China\u00a0on Friday executed a former top banker accused of taking $260 million worth of bribes,<\/p>\n","protected":false},"author":1,"featured_media":3104,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":""},"categories":[9],"tags":[],"class_list":["post-3097","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-world"],"yoast_head":"\nChina executes ex-banker in bribes, bigamy case | Rapid News<\/title>\n<meta name=\"description\" content=\"China\u00a0on Friday executed a former top banker accused of taking $260 million worth of bribes, other forms of corruption and bigamy\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/dailyrapidnews.com\/eng\/2021\/01\/29\/china-executes-ex-banker-in-bribes-bigamy-case\/\" \/>\n<meta property=\"og:locale\" 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