China Sentences Ex-Finance Chief to Death on Corruption Charge

(Bloomberg) —

China condemned the former chairman of China Huarong Asset Management Co. to death on charges of malfeasance, one of the most severe sentences to stem from President Xi Jinping’s anti-corruption drive.

Lai Xiaomin, who was chairman of Huarong before he came under investigation in 2018, was sentenced to death for taking bribes as well as bigamy, according to a local court. He was found guilty of receiving 1.79 billion yuan ($277 million) in bribes between 2008 and 2018, according to the court of Tianjin City. All his personal assets will be confiscated, the ruling said.

Capital punishment is