A Second Ex-Huarong Executive Sentenced to Death Over Bribery
- Former Huarong manager Bai took bribes totaling $153 million
- China’s anti-graft campaign picks up pace in recent years
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China has sentenced an ex-official with China Huarong International Holdings Ltd. to death with no reprieve on bribery charge, making a rare death sentence for a second time in years on a senior financial executive as the authorities step up crackdown on financial crimes.
Bai Tianhui, a former general manager at the unit of bad asset manager China Citic Financial Asset Management Co., was handed the sentence by a Tianjin court on Tuesday, according to China Central Television. Bai had committed “serious crimes” and taken a “huge amount” of bribes totaling 1.1 billion yuan ($153 million), the report said.