Former manager of financial company sentenced to death for $156 million corruption

Beijing: A former bank manager has been executed in China. Bai Tianhui, the general manager of China’s Huarong International Holdings, was executed this morning. Tianhui is accused of taking bribes worth around $156 million while he was the manager. Chinese President Xi Jinping has been punishing corrupt individuals for years. Lai Xiaomin, the former chairman of Huarong, was also sentenced to death in a corruption case. He is accused of corruption worth approximately $253 million.

Several executives from the Hurong company are also facing corruption cases. Bai was sentenced to death by the Tianjin No. 2 People’s Court. The verdict was carried out today after the Supreme Court gave its approval. Bai’s personal assets were seized. An appeal against the death penalty was dismissed in February 2024. Bai served in various positions from 2014 to 2018.