Ex-Banker In China Sentenced To Death For $260 Million Bribery, Bigamy.

Ex-Banker In China Sentenced To Death For $260 Million Bribery, Bigamy

Lai Xiaomin, then chairman of China Huarong Asset Management Co., speaks during a conference.

Beijing, China:

The former chairman of one of China's largest state-controlled asset management firms was sentenced to death Tuesday for soliciting $260 million in bribes as well as bigamy.

A court in Tianjin said Lai Xiaomin had abused his position in attempting to obtain the vast sum, saying the bribes were "extremely large, the circumstances were particularly serious," and he had shown "extreme malicious intent."

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