China executes former asset management chief for corruption

World

China executes former asset management chief for corruption

Lai Xiaomin was found guilty of taking $280m worth of bribes over 10 years

Edward White and Sun Yu

China has executed the former head of one of its biggest asset management companies, who was convicted of corruption, a punishment that has drawn sharp criticism from international human rights experts. 

The execution of Lai Xiaomin was carried out on Friday, three weeks after the 58-year-old was sentenced to death by a court in the city of Tianjin, state media reported.

Lai was found guilty of taking bribes amounting to $280m (about R4,2bn) over a 10-year period when he worked at Huarong Asset Management and before that at the China Banking Regulatory Commission...

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