Posted on 01/05/2021 10:04:06 AM PST by Red Badger
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.
Lai, who was expelled from the ruling Communist Party in 2018, was also convicted on a charge of bigamy.
Chinese authorities alleged that Lai extorted bribes, colluded with others to embezzle large amounts of public assets, and took advantage of his positions to seek improper benefits for those who bribed him.
Reuters was unable to contact Lai or his lawyer for comment.
“Lai Xiaomin was lawless and extremely greedy,” the court statement said.
Huarong said its Communist Party committee supports the verdict.
“The severe treatment of Lai Xiaomin reflects the strong determination of the Central Committee with leader Xi Jinping as the core to administer the party and its zero tolerance in punishing corruption,” the company said in a statement.
The court noted that most of the activity in question took place after the 18th Party congress in late 2012, when Xi came to power. He would soon launch a sweeping anti-corruption campaign that has purged many of his political rivals.
Lai was purged amid reshuffling within the central government’s finance-related agencies, a hint that authorities would target corruption in the finance sector.
The Epoch Times contributed to this report
Is it too late for Lai Xiaomin to change his last name to Biden?
Ok, so the CCP isn’t all bad.
Power struggle going on. This is part of purges.
CCP is weak and fragmented. Now is not the time for Biden appeasement and engagement.
I wonder if he’ll get a Covid vaccination?....................
It’s OK to steal, until it’s not.
We would have few in government here with that penalty enforced.
LOL — you read my mind...
““The severe treatment of Lai Xiaomin reflects the strong determination of the Centrali Committee with leader Xi Jinping as the core to administer the party and its zero tolerance in punishing corruption,” the company said in a statement.”
Uh, no. China runs on corruption. What they are doing is eliminating someone who is on the wrong side of a power struggle. Oh, and as a bonus, they get all his wealth. I’d guess Jack Mau is trying hard to get out of the country with his hyde intact. He also appears to be on the wrong side.
that’s the way to deal with white collar crime.
the person ripping off a pension fund or embezzling should get the same bullet to the brain as a thug holding up a 7/11 IMHO,
Anything over $10K and it should be click click BOOM. Screw parole and eliminate appeals.
The thrust of this article is NOT primarily about capital punishment for a white collar crime. It is about the CCP dealing with a political opponent.
You should pay attention to your own tagline.
Sentenced to death for corruption. If our court system worked correctly and justice were truly blind, I suspect 2/3 of Congress, 3/4 of all federal employees and every lobbyist would be on death row.
And has for thousands of years................
Doesn’t matter.
of COURSE the very definition of what is ‘illegal’ in China has nothing to do with actions and everything to do with factions. DOH.
I do like the idea of capital punishment for white collar criminals, though.
We ought to outsource our jails to China and Saudi Arabia.
He sounds like Pelosi, Finestein and other top dems.
No wonder the top elite dems get along so well with the top elite ChiComs!
You need to take the political temperature. Do you think General Flynn should have been put to death?
The FBI has shown that they are quite capable of framing people. Now is not the time to introduce capital punishment for non-violent offenders. Framing for violence is a lot harder than framing for white-collar activity.
If the CCP pulls this stuff to get rid of political enemies aren’t you concerned that the Democrats would not be far behind?
Oh quick, watch the Left in the United States take on China
for using the death penalty.
Crickets...
They are probably getting rid of the evidence of Biden payoffs. They are just more open about it than our powers-that-be were about Epstein.
Somebody should force Shanghai Mitch to read this real real slowly ten times and then attend this guys execution.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.