China condemns former high-flying finance executive to death

A slew of officials have been caught up in President Xi's dragnet

A former chairman of one of China’s biggest bad debt managers was condemned to death over charges of corruption, marking a rare sentence in President Xi Jinping’s efforts to tighten control over the economy and rein in malfeasance.

Lai Xiaomin, who was chairman of China Huarong Asset Management Co. 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