China Kills Former Banker Lai Xiaomin In Corruption Case On January 5, Chinese Court Found Shiaomin Guilty, There Is Strict Punishment To Overcome Corruption In China
China has sentenced Lai Xiaomin, the former chairman of Huarong Asset Management Company, to death by taking major action against corruption. He was also an active member of the Chinese Communist Party, the party of banker Xi Jinping. Despite this, justice gave the death to this banker in order to eradicate the corruption of the country and to sow panic among the bribes among the population. During the investigation, a large amount of money was also collected from Xiaomi’s apartment in Beijing.
Undisclosed death methods
Xiaomi was sentenced to death by the Chinese court on January 5. After which he was put to death on January 29. Chinese media have yet to reveal the method chosen to kill this banker. In China, the death penalty is officially carried out by hanging or poisoning.
2026 crore was a corruption case
The Chinese banker was charged with bribery of around Rs 2,026 crore between 2008 and 2018. After a lengthy hearing, the Tianjin People’s Court in China on January 5 announced the death sentence after the banker’s conviction. After which, the Supreme Court of China also reviewed Xiaomi’s death sentence. However, given the evidence, the banker’s death sentence was upheld.
There were also allegations of two or two marriages
This banker had started a new family, leaving his first wife and children. After that, the court, ruling on this case, was found guilty of living with another woman. After that, the court not only seized all his property, but also abolished all his political rights, while pleading guilty in both cases.
China sentenced another banker to life imprisonment
In early January of this year, China sentenced the former head of a major state bank to life imprisonment over a corruption case. A former bank official named Hu Huaybang was sentenced by the Chengde court for bribing 8.55 crore yuan (around Rs 97 crore) between 2009 and 2019. He was also secretary of the Communist Party at the China Development Bank, one of the richest banks in the world.