China Sentences Ex-Finance Chief to Death on Corruption

Huarong Chairman Lai accused of taking $277 million in bribes
Rare harsh penalty signals Xi’s tough stance on corruption

Watch: The former chairman of one of China’s biggest bad debt managers has been sentenced to death for taking bribes. (Source: Bloomberg)

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By Bloomberg News

January 5, 2021 at 9:31 AM UTC

Updated on

January 6, 2021 at 1:04 AM UTC

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