Former Head of China’s Largest Financial Asset Management Company Sentenced to Death

Former Head of China’s Largest Financial Asset Management Company Sentenced to Death
Former China Huarong Asset Management Co. chairman Lai Xiaomin listens to a question from a reporter during the debut of the company at the Hong Kong Exchanges in Hong Kong on Oct. 30, 2015. Bobby Yip/Reuters
Reuters
Updated:

BEIJING—The former chairman of China Huarong Asset Management Co. has been sentenced to death, a court in the northern city of Tianjin said on Jan. 5, in one of the country’s highest-profile corruption cases.

Lai Xiaomin was convicted of receiving or seeking bribes totaling 1.788 billion yuan ($276.72 million) from 2008 to 2018, when he was also a senior banking regulator, according to the Secondary Intermediate People’s Court of Tianjin.