On the morning of Jan. 29, Lai Xiaomin, the former party secretary and chairman of Huarong, was executed at the age of 59.
“After the execution of Lai Xiaomin, the former party secretary and chairman of Huarong, the first corrupt official in China, Guo Wengui, a Chinese tycoon in exile in the United States, revealed that Lai Xiaomin wailed before his execution and told the law enforcement officials where he had hidden more than 2,000 kilograms of Gold bars. The Central Commission for Discipline Inspection (CCDI) also recently concluded the case of Lai Xiaomin with the title “Severe punishment for financial insiders who monitor their own ways” and said that there is “no Amnesty” for corruption in this field.
Lai Xiaomin’s death before the tragic exposure, passing howling
After Lai Xiaomin, the former chairman of Huarong Assets, was sentenced to death on January 5 for bribery, embezzlement, bigamy and other corruption charges, Lai Xiaomin filed an appeal; on January 21, the Tianjin High Court rejected the appeal in the second trial; on the morning of January 29, Lai Xiaomin was executed at the age of 59. This is the first Chinese Communist Party official to be executed for corruption since Xi Jinping came to power in 2012.
Guo Wengui, a Chinese tycoon living in exile in the United States, recently broke the news live that before his execution, Lai wailed and told law enforcement officials where he had hidden his wealth, including more than 2,000 kilograms of gold bars from the U.S. Federal Reserve.
The company’s main business is to provide a wide range of products and services to the public.
Guo Wengui revealed that in the last moments of his Life, Lai Xiaomin explained to the court execution court, prison guards, death penalty executors and other types of law enforcement officers a lot of secret places to hide wealth, leaving a lot of wealth to these people, “the last few hours there is a big fortune”.
Guo Wengui broke the news that Lai Xiaomin hid a huge amount of wealth, including paintings, jade, jade, gold bricks, silver bricks, and even a private stash of more than 2,000 kilograms of gold bars from the U.S. Federal Reserve.
Guo Wengui pointed out that before his execution, Lai Xiaomin told relevant law enforcement officials about the whereabouts of his stash of gold bars, but instead got some of them into trouble, “I heard that a few of these people who took care of him privately and made him cry have now disappeared. So people ah… Don’t get rich, you know there are cameras there?”
After the fall of Lai Xiaomin, some financial “mole” was uncovered
The website of the State Supervision Commission of the Central Commission for Discipline Inspection of the Communist Party of China (CPC) posted an article on February 1, saying that last week, a series of four financial unit cadres at the department and bureau level were announced to be expelled from the party: Xue Jining, former secretary of the party committee and director of the Inner Mongolia Banking Regulatory Bureau, Chen Zhitao, former deputy director of the Inner Mongolia Banking Regulatory Bureau, Song Jianji, former deputy director of the Inner Mongolia Banking Regulatory Bureau, and Zhang Anshun, former secretary of the party committee and director of the Shanxi Banking Regulatory Bureau.
According to incomplete statistics, in the first month of 2021, at least eight senior officials of the financial system were investigated and punished, including Feng Zengbing, head of the risk tour working group of the business line of the Export-Import Bank of China, Yang Qinghe, second-level inspector of the Shanxi Banking and Insurance Regulatory Bureau, Zhang Anshun, former secretary of the party committee and director of the Shanxi Banking Regulatory Bureau, Xue Jining, former secretary of the party committee and director of the Inner Mongolia Banking Regulatory Bureau, Song Jianji, former deputy director of the Inner Mongolia Banking Regulatory Bureau, former Inner Mongolia Banking Regulatory Bureau Chen Zhitao, Deputy Director, Yang Degao, former Vice President of Hubei Branch of China Development Bank, and Wang Xuefeng, former Party Secretary and President of Shanxi Branch of China Development Bank.
In addition, on the morning of January 7, the Intermediate Court of Chengde City, Hebei Province sentenced Hu Huibang, former Party Secretary and Chairman of China Development Bank, to life imprisonment for taking bribes.
The day after the verdict of Lai Xiaomin’s case, the Central Committee of Political Science and Law “Chang’an Jian” published an article on the case, “No hesitation, no exceptions, anti-corruption, every evil will be cut!”
The fifth plenary session of the Central Commission for Discipline Inspection was held in Beijing on January 22, with Xi Jinping and seven other members of the Standing Committee of the CPC Political Bureau in attendance. In his speech, Xi acknowledged that “corruption is still the biggest threat to the party”; “If we can’t control finance, it will pose a threat to economic security, which in turn will endanger political security.”
Xi also mentioned the need to strengthen supervision of the financial management sector; in particular, leaders at all levels must tighten control over their families, children and people around them.
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