The former chairman of one of China's largest asset management companies was sentenced to death on Tuesday for corruption and bigamy.
Lai Xiaomin, a former Communist Party member, gave a detailed confession on state broadcaster CCTV in January 2020, with footage of a Beijing apartment reportedly belonging to Lai with safes and cabinets stuffed with stacks of cash.
Lai had abused his position in attempting to obtain the vast sum, the court in Tianjin said, describing the bribes as "extremely large" and calling the circumstances "particularly serious".
He had shown "extreme malicious intent," the court ruling added.
Lai, former chairman of the Hong Kong-listed China Huarong Asset Management Co, was also found guilty of bigamy after living "as man and wife for long periods outside of his marriage and fathering illegitimate children.”
Lai, whose investigation started in April 2018, also embezzled over 25 million yuan ($3.8 million) in public funds between 2009 and 2018.
During his televised confession, Lai told CCTV he "did not spend a single penny, and just kept it thereā¦ I did not dare to spend it"..
Prime Minister Narendra Modi is set to hold a bilateral meeting with Chinese President Xi…
Taiwan's Ministry of National Defence (MND) said on Wednesday that China has launched satellites from…
Indian Navy Chief Admiral Dinesh K Tripathi during his visit to the National Defence College,…
Protesters in Bangladesh have seiged Banga Bhaban, the presidential palace, demanding the resignation of President…
Prime Minister Narendra Modi held a meeting with Iranian President Masoud Pezeshkian on the sidelines…
Prime Minister Narendra Modi discussed the issue of early discharge of the remaining Indian nationals…