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Ex-chair of China’s state-owned asset manager sentenced to death for $260m bribery, bigamy charges

Lai Xiaomin's firm has previously included Goldman Sachs, Warburg Pincus and Fosun International among its backers

By

Emily Nicolle

Lai Xiaomin, former chairman of China Huarong Asset Management, confessed to crimes which included soliciting $260m in bribes, corruption and bigamy
Lai Xiaomin, former chairman of China Huarong Asset Management, confessed to crimes which included soliciting $260m in bribes, corruption and bigamy Photo: Getty Images

Lai Xiaomin, the former chair of one of China’s largest state-owned asset managers, has been sentenced to death.

Lai appeared on local television on 5 January to confess to his crimes, AFP reported, which included soliciting $260m in bribes, corruption and bigamy.

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