1. Lai Xiaomin was a Chinese politician, business executive and senior economist who served as Chinese Communist Party Committee Secretary and chairman of the board of China Huarong Asset Management from September 2012 to April 2018.
18 Facts About Lai Xiaomin
1. 2.
On 5 January 2021, Lai was sentenced to death without reprieve for bribery, embezzlement, and bigamy.
3.
Lai Xiaomin assumed various posts in the People's Bank of China, including deputy director and Director of the Central Funding Department of the Planning Capital Department of the People's Bank of China, Director of the Second Division of the Bank, deputy director of the Credit Management Department, and deputy director of the Bank Supervision Second Division.
4.
Lai Xiaomin was a delegate to the 12th National People's Congress.
5.
Lai Xiaomin was born into a family of very poor farmers in Ruijin, Jiangxi, on 21 July 1962.
6.
Lai Xiaomin was the youngest one of the five siblings.
7.
Lai Xiaomin was promoted to Chinese Communist Party Deputy Committee Secretary and president of China Huarong Asset Management in January 2009.
8.
Lai Xiaomin was a member of Chinese Communist Party, the Party secretary of China Huarong Asset Management's CCP Committee.
9.
On 17 April 2018, Lai Xiaomin was put under investigation for alleged "serious violations of discipline and laws" by the Central Commission for Discipline Inspection, the party's internal disciplinary body, and the National Supervisory Commission, the highest anti-corruption agency of China.
10.
Lai Xiaomin was expelled from the CCP and removed from office on 15 October 2018.
11.
In January 2020, Lai Xiaomin confessed in a state TV documentary broadcast to stashing over 200 million yuan in cabinets at his apartment.
12.
Lai Xiaomin was said to have held gold bars and luxury cars, a bank account in his mother's name holding hundreds of millions of yuan, and more than 100 mistresses to whom he gave properties developed by a real estate subsidiary of Huarong.
13.
Lai Xiaomin pled guilty to accepting 1.79 billion yuan in bribes, and being involved in other corruption and bigamy over a period of ten years.
14.
On 5 January 2021, Lai Xiaomin was sentenced to death for receiving bribes and committing bigamy.
15.
Lai Xiaomin was executed on 29 January 2021,24 days after his sentencing.
16.
Lai Xiaomin was likely executed by lethal injection, though authorities did not specify whether this method or firing squad was used.
17.
Bai Tianhui, one of Lai Xiaomin's subordinates, was sentenced to death for taking bribes worth over 1.1 billion yuan by the Tianjin No 2 Intermediate People's Court.
18.
Lai Xiaomin lived with another woman as husband and wife for a long time and had two sons with her while he was legally married to another woman.