Jaw-dropping details of the corruption case involving the former head of a powerful Chinese state lender were disclosed in a televised documentary, showing a room filled with more than 200 million yuan ($29 million) of cash.
A five-episode documentary that started Sunday on state broadcaster China Central Television tells the tales of Lai Xiaomin, the former head of state bad-asset manager China Huarong Asset Management Co. Ltd. He was formally arrested in November 2018 on charges of bribery, embezzlement and cronyism. Lai himself appears in part two of the documentary, which aired Monday as he awaits trial.
“We have dealt with a number of cases in the financial sector, but none was as shocking as Lai’s case in the amount, degree of damage and plots and means of crimes,” says Chen Qingpu, deputy director of the Central Commission for Discipline Inspection, the Communist Party’s anti-corruption watchdog, in the documentary.
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