Posted on 01/30/2021 6:59:15 PM PST by SeekAndFind
Lai Xiaomin, former chairman of China Huarong Asset Management Co., the country’s largest such firm, was executed by a court in Tianjin city on Jan. 29.
The firm was founded in Beijing on Nov. 8, 1999. Since September 2012, Lai also served as the company’s Chinese Communist Party chief.
Lai was first placed under investigation by China’s anti-corruption watchdog in April 2018.
On Jan. 5, 2021, he was sentenced to death without reprieve by the Tianjin intermediate court, on charges of bribery, embezzlement, and bigamy.
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. Xi 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.
Lai appealed the verdict to the Tianjin Supreme Court. But on Jan. 21, the supreme court determined that the first-trial ruling should be maintained.
China’s highest court, the Supreme Court, reviewed his case and confirmed capital punishment for him.
The court’s review statement explained that Lai took advantage of his positions to seek improper benefits for those who bribed him. He was accused of taking assets totaling 1.788 billion yuan (about$276.72 million), embezzling public assets totaling 25.13 million yuan (about $3.9 million), and committing bigamy.
Following the verdict, the Tianjin intermediate court carried out the execution on the morning of Jan. 29.
Prior to his execution, he was granted an opportunity to see his close relatives for the last time.
State broadcaster CCTV described Lai’s corruption in a documentary that aired on Jan. 13.
(Excerpt) Read more at theepochtimes.com ...
Hmmmm... Sentenced to death for bribery and bigamy… Well that’s just about every politician here in the US.
And this guy isn’t even a government official.
Good thing our finance system isn’t corrupt, right robinhood app?/s
Commie show trials never turn out in the defendant’s favor.
And the Bidens and Clintons want to play with the Chinese.
I wonder who the audience is for the next move by the CCP?
So will the PRC apply the same law to Hunter Biden?
...just about every politician here in the U.S.....
Mitch to Chicom pals: “But you fellows are understanding of people like me who may cross you a little, right? You wouldn’t purge me for the other day when I didn’t come through for China, would you, old friends? Hey, why are you shoving me into this car? Are we going for a ride somewhere at this time of night?”
“Former Chinese Finance Tycoon Executed”
We’ve got a few here too China when you get control from Biden.😎
That's the reason they've put up a wall of military and concertina wire around D.C.
No kidding that’s all our officials do. It’s not business as usual unless they’re taking bribes, kickbacks in exchange for favors. They even set up special ‘foundations’ so they can be bribed by the entire world.
I’ve been to Tianjin. It’s industrial, has a river running through it called the Hai River.
It has (or had) a big coal gassification works on one side, with a huge gasholder like the one that used to be the biggest feature of Newark NJ as you drove into it from NYC.
He leaves behind 100 wives...
China’s Most Corrupt Official Sentenced to Death | Lai Xiaomin and China...
From China Uncensored
Honestly ... this kind of sentence seems about right ... for the people who break the financial laws and steal to the tune of 100s of millions of dollars.
As for those who say the death penalty is not a deterrent: the dead guy agrees with you. But he didn’t get to vote this time.
Will his wives split his estate?
I wonder what the Chinese would do to the heads of clearing houses that sold hundred of thousands of shares they didn’t have?
Heck, that's basically the DNC Platform!
Here, we potect them and go after the ones who exposed them!
China executes more people per year than the rest of the world combined.
Sentenced to death on Jan 5th
Dead on January 29th
Hmmmmmm.....we need to find that happy medium.
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