Lai Xiaomin, previously chairman of one of China’s “big four” state-controlled asset management firms, China Huarong Asset Management Co, had pleaded guilty to the dozens of charges. He had been accused of soliciting almost 1.79bn yuan ($276.7m) in bribes over 10 years, a period when he was also acting as a regulator. The Tianjin court said Lai had abused his position to obtain the “extremely large” bribes, and the circumstances were “particularly serious”, including taking bribes to get people jobs, promotions or contracts.
“Lai Xiaomin was lawless and extremely greedy,” the court statement said. He will also have personal assets confiscated and be stripped of his political rights.
The death sentence for Lai,
So they’re going to shoot him, take all his stuff and prevent him from voting?
It’s that last that’s so fun. Because of course it’s the places that don’t particularly have significant political rights that make so much of taking them away.