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Why China Is Sentencing a Tycoon to Death - The Washington Post

The harsh penalty against Lai Xiaomin is likely a warning to others in the sprawling state-run financial sector to stick to their duties. ....

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Why China is sentencing a tycoon to death

HONG KONG (Bloomberg): The bigamy conviction got a lot of the attention but Lai Xiaomin received a death sentence on Tuesday (Jan 5) over a much more serious issue troubling China. ....

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Why China is sentencing a tycoon to death

Jan 6, 2021
The bigamy conviction got a lot of the attention but Lai Xiaomin received a death sentence on Tuesday over a much more serious issue troubling China.
Lai oversaw China Huarong Asset Management Co. from 2012 until he ran into trouble in 2018. He was found guilty of receiving 1.79 billion yuan ($277.3 million) in bribes, with bigamy thrown in for good measure. Still, capital punishment for this kind of white-collar crime is unusual, legal experts say. Wu Xiaohui, former chairman of Anbang Insurance Group Co., whose clean-up is costing Beijing billions of dollars, was sentenced to 18 years in jail over a $10 billion fraud in 2018. ....

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