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Corrupt Chinese banking magnate executed for taking over £200m in bribes
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dailystar.co.ukHuarong, one of China’s largest state-controlled asset management firms, was put to death by a court in the northern city of Tianjin on January 29.
The corrupt banker was accused of taking almost 1.8 billion yuan (£204 million) worth of bribes for serious crimes that would have a 'severe social impact,' the South China Morning Post reported.China Central TV said: “The amount of bribes received by Lai Xiaomin was extremely large, the crime’s circumstances were particularly serious and the social impact was particularly severe." The broadcaster also cited China’s Supreme People’s Court as saying that they reviewed and approved an execution order for Mr Xiaomin.
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