BEIJING: China’s anti-corruption campaign under President Xi Jinping has ensnared numerous officials over the past decade, however, death sentences without suspension remain rare. Bai is only the second official from China Huarong to receive a death sentence for corruption
A court in eastern China issued an uncommon death sentence Tuesday, following the conviction of a former senior banker who accepted bribes totaling more than 1.1 billion yuan (US$151 million) during his tenure with one of the nation’s top four state asset managers.
Bai Tianhui, the former general manager of China Huarong International Holdings (CHIH), was found to have abused his position by facilitating acquisitions and financing of projects in exchange for substantial sums of money, according to a report from state broadcaster CCTV on the ruling by the Secondary Intermediate People’s Court of Tianjin.
The report did not specify Bai’s plea or whether he intends to appeal the sentence.
While China’s anti-corruption campaign under President Xi Jinping has ensnared numerous officials over the past decade, death sentences without suspension remain rare in corruption cases.
CHIH, an offshore unit of China Huarong Asset Management (CHAM), was acquired by the Citic Group in January and renamed China Citic Financial Asset Management.

Agenices

Agencies