Lai Xiaomin, former president China Huarong Asset Management Chairman Lai Xiaomin (Asset Management Co.), has been sentenced to death for corruption.
Lai also was accused of bigamy, allegedly admitted to having received bribes worth about $ 250 million
He was sentenced to death for receiving bribes and committing bigamy, the People’s Daily reported on Tuesday, citing a local court.
He was a senior economist who served as party chairman and chairman of the board of China Huarong Asset Management, one of the largest financial asset management company in China, from September 2012 to April 2018. He was fired on April 17, 2018.
He has held various positions at the People’s Bank of China, including Deputy Director and Director of the Central Finance Department of the Capital Planning Department of the People’s Bank of China, Director of the Bank’s Second Division, Deputy Director of the Credit Management Department, and Deputy Director of the Bank’s Second Supervision Division.
He was a delegate to the 12th National People’s Congress.
His previous positions include Deputy Director of the Banking Supervision Department of the Banking Regulatory Commission of China, Head of the Preparatory Bureau of the Beijing Bureau of Supervision, Secretary of the Beijing Banking Regulatory Bureau, Secretary-General of the General Committee of the Banking Regulatory Commission of China, and the Office Director of the Party Committee and Chief Spokesperson.
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