China Executes Banker Over £116-Million Bribery Case

China has executed a former senior banker for accepting £116 million in bribes, marking the latest high-profile case in President Xi Jinping’s anti-corruption campaign, Max Stephens reported for The Telegraph.

Prosecutors said Bai abused his position at the state-owned offshore investment company between 2014 and 2018, accepting bribes totaling 1.1 billion yuan. (Photo: 維基小霸王 Wikimedia Commons) 

Bai Tianhui, the former general manager of asset management firm China Huarong International Holdings, was executed Tuesday in the northern city of Tianjin.

Prosecutors said Bai abused his position at the state-owned offshore investment company between 2014 and 2018, accepting bribes totaling 1.1 billion yuan.

In a statement, the court said: “The amount of bribes received by Bai Tianhui was extremely large, the crime’s circumstances were particularly serious, and the social impact was particularly severe.”

The court added that Bai’s actions had “harmed the interests of the state and the people” and that he should be “severely punished according to law.”

China’s Supreme People’s Court said the facts of the case were “clear” and the evidence “conclusive and sufficient,” making the sentence appropriate.

Authorities did not disclose the method of execution but said Bai was allowed to meet with close relatives beforehand. Executions in China are typically carried out by gunshot to the back of the head.