China finance official executed in bribery case

  • 📰 CP24
  • ⏱ Reading Time:
  • 23 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 67%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

The former head of a Chinese state-owned asset management company was executed Friday on charges of taking bribes in an unusually severe penalty for a recent corruption case.

Lai Xiaomin of China Huarong Asset Management Co., was among thousands of officials snared in a long-running anti-graft campaign led by President Xi Jinping. Others including China's former insurance regulator have been sentenced to prison.The Second Intermediate People's Court of Tianjin ruled in January that death was justified because Lai took “especially enormous” bribes to make investments, offer construction contracts, help with promotions and provide other favours.

Lai “endangered national financial security and financial stability,” said a commentary on the state TV website.Most death sentences imposed by Chinese courts are suspended for two years and usually are commuted to life. Death penalties without the chance of a reprieve are rare. Lai was placed under investigation by the ruling Communist Party's anti-corruption watchdog in 2018 and expelled from the party later the same year.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 30. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Opposition calls on Canadian government to stop contracting out visa applications to China-backed companyNDP MPs, including immigration critic Jenny Kwan, say the presence of investors such as China Investment Corp. raises ‘serious concerns around the security of information handled by VFS Global’ I can’t actually believe that this is real. Doesn’t Canada have people? This is a joke right? We are worried about Huawei and Trudeau government pays them to access our most private information? Trade/business is NOT negotiable with HumanRights.It is clear the utter disdain China has for justice,democracy&freedom. A clear sign shd be sent by all who has a conscience,that such breaches by China is NOT OK.Pls StandWithHK,stop the UyghurGenocide!
Source: globeandmail - 🏆 5. / 92 Read more »