World news – China executes ex-banker Lai Xiaomin for corruption in the Bigamy case

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China on Friday executed a former top banker accused of accepting bribes worth $ 260 million, other forms of corruption and bigamy, state broadcaster CCTV reported.

Lai Xiaomin, the former chairman of Huarong – one of the largest state-controlled wealth management firms in China – was killed by a court in northern Tianjin City, CCTV said.

« The number of bribes Lai Xiaomin received has been extremely high, the circumstances of the crime were particularly grave and the social implications were particularly grave, « CCTV quoted the Supreme People’s Court of China, which reviewed and approved the execution order.

The report did not specify how Lai was executed, but he was allowed to meet close relatives before his death.

Chinese courts have a conviction rate of over 99 percent, and it comes out extraneous It is rare for a death sentence to be overturned. The number of executions carried out each year is a state secret.

The rights group Amnesty International estimates that the country is the world’s leading executioner. Thousands are executed and sentenced to death every year.

Lai was convicted and sentenced earlier this month. The Tianjin court ruled that he had shown « extreme malice » and abused his position to obtain the enormous sum.

He was also found guilty of bigamy after dating « a woman » for a long time as a man and wife « lived outside of their wedlock and had illegitimate children.

Lai allegedly used his position to embezzle more than 25 million yuan ($ 3.8 million) in public funds between 2009 and 2018.

His fall began in April 2018 when investigators removed him from his job and robbed him of his position as the Communist Party.

Several high-profile party officials and entrepreneurs have been part of Chinese President Xi Jinping’s anti-corruption efforts in recent years Spectacularly out of favor.

(Except for the headline, this story was not edited by NDTV staff and published from a syndicated feed.)

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