Former Chinese banker: The court of Tianjin said that Lai misused his position in want of wealth soon. He termed the bribe as ‘very big’ and described the situation as ‘very serious’. The court said that they have shown a “very poor mindset”.
The former chairman of China’s largest state-owned asset management firm (Asset Management Firm) was sentenced to death on Tuesday due to bribery, corruption and bigamy of $ 26 million. Lai Geomin, a former member of the Communist Party, widely accepted allegations of corruption in January 2020 on the state television channel.
The court of Tianjin said that Lai misused his position in want of wealth soon. He termed the bribe as ‘very big’ and described the situation as ‘very serious’. The court said that they have shown a “very poor mindset”. Lai, a former chairman of the Hong Kong-listed Chine Huarong Asset Management Company, was found guilty of prolonged stay with a woman and illegitimate children in addition to her marriage.
The investigation against Lai started in April 2018. In her confession on TV, Lai told the state television channel CCTV – “I have not spent a single penny, I have kept all my money … I did not dare to spend money.” ”
CCTV, the state television channel there, has shown Lai taking prized vehicles and gold as a bribe. However, critics say that after the anti-corruption campaign launched by President Xi Jinping, he has found a way to take action against his opponents and critics of the Communist Party leadership.
