SHANGHAI: A Chinese court on Tuesday (May 28) sentenced to death a former executive of one of the country's largest state-controlled asset management firms for accepting "extremely large" bribes, state media reported.
Bai Tianhui , the former general manager at a subsidiary of Huarong Asset Management, during his sentencing at the court on May 28, 2024.
Huarong has been a major target of Chinese President Xi Jinping's years-long graft crackdown, with its former chairman Lai Xiaomin executed in January 2021 for receiving bribes worth US$260 million. "The value of Bai Tianhui's bribery crime was extremely large, the circumstances of the crime were extremely serious, the social impact was extremely bad, and it caused extremely heavy damage to the interests of the country and the people," the court decided, according to the broadcaster.
In April, Liu Liange, chairman of the Bank of China from 2019 to 2023, admitted to"accepting bribes and illegally providing loans".
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