Lai Xiaomin, the former chairman of China Huarong Asset Management Corp. who was accused of taking bribes of 1.788 billion yuan (about 7.7 billion NT dollars), was sentenced to death on the 5th and executed today in just 24 days.
In the past, most of the death sentences for corruption in China were suspended for two years and then commuted to Life imprisonment.
After Lai’s execution, China Central Television’s news App published a transcript of an interview with the trial judge in the case.
The judge described Lai Xiaomin as having “taken a particularly large amount of bribes, committed a particularly serious crime, had a particularly bad social impact, and caused the state and people’s interests to suffer particularly significant losses.
The judge also stressed that Lai Xiaomin’s crime is extremely serious, and although he has made significant meritorious performance in the past, the circumstances are not enough to mitigate the punishment, and he should be sentenced to death according to the law.
The judge also said that the organ in charge of the case has seized and seized more than 1.7 billion yuan of stolen money and goods, the vast majority of stolen money and goods have been seized to the case. After the verdict comes into effect, the court will deal with the property involved in the case in accordance with the relevant laws and regulations, to be paid to the state treasury or returned to the relevant units; the shortfall will continue to be recovered.
Lai Xiaomin, who was investigated and fell in April 2018, was charged with bribery, embezzlement and bigamy in a case that began on Aug. 11 last year at the Tianjin Second Intermediate Court and was sentenced to death, deprivation of political rights for life and confiscation of all his personal property on Jan. 5 this year.
The case of Lai Xiaomin has received attention for the amount of bribes received and the wide range of involvement. The mainland media Caixin.com has reported that Lai Xiaomin had “three 100s”: more than 100 suites, more than 100 associates and more than 100 mistresses.
China’s CCTV also previously disclosed that the investigators found 270 million yuan in cash in several of Lai Xiaomin’s properties, weighing more than 3 metric tons in total, breaking the record for cash recovered from corrupt officials.
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