Execution of a Chinese banker in a bribery case

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BEIJING: A local court has sentenced Lai Xiaomin, former chairman of China’s Howrang Asset Management Company, to life in prison. A Tianjin city court on Tuesday handed down the sentence in the biggest corruption case in China. Between 2008 and 2018, Xiomin was proven to have bribed about 1.788 billion yuan (Rs 2,023 crore). Court sources said he was also a senior banking regulator during this period. He also pleaded not guilty to the Bigami charges. In 2018, the official Communist Party boycotted Loy.

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