Former Chinese senior banker Bai Tianhui executed for taking US$155 million in bribes
Bai is the second senior figure from Huarong to be put to death for corruption following the execution of Lai Xiaomin in 2021
China has executed a former senior banker who was found guilty of taking more than 1.1 billion yuan (US$155 million) in bribes.
Bai Tianhui, the former general manager of the asset management firm China Huarong International Holdings, was executed on Tuesday after the Supreme People’s Court approved the sentence, state broadcaster CCTV reported.
The state-owned offshore unit Bai ran was taken over by Citic Group and renamed China Citic Financial Asset Management in January last year.
It is rare for Chinese courts to hand out death sentences to state workers convicted of corruption charges.
However, Bai was the second senior Huarong executive to be sentenced to death for corruption.
In January 2021, Lai Xiaomin, former chairman of China Huarong Asset Management and Bai’s former boss, suffered a similar fate.
Lai was the first official to receive the ultimate penalty for corruption since Xu Maiyong and Jiang Renjie, former deputy mayors of the eastern cities of Hangzhou and Suzhou, who were put to death in 2011.
