Former Senior Banker Bai Tianhui Sentenced to Death for Accepting Bribes
Bai Tianhui, a former senior banker, has been sentenced to death by a China court for accepting bribes worth over 1.1 billion yuan (US$151 million).
Details of the Case
- Bai Tianhui, the former general manager of China Huarong International Holdings (CHIH), was found guilty of using his position to facilitate acquisitions and financing projects in exchange for bribes.
- The Secondary Intermediate People’s Court of Tianjin also permanently stripped Bai of his political rights and ordered the confiscation of all his personal property.
- Despite providing information that led to other arrests, the court deemed the scale of Bai’s bribery and the social impact of his crimes too severe for a lighter sentence.
Legal Ramifications and Possible Appeal
While China’s State broadcaster CCTV reported the ruling, it did not disclose Bai’s plea or whether he plans to appeal. Legal experts suggest Bai may appeal his sentence, citing precedents where similar offences received lesser sentences.
Context on Death Sentences in Corruption Cases in China
Death sentences in corruption cases are rare in China, especially ones that are not suspended. Bai Tianhui is the second official from China Huarong to receive such a sentence. This ruling comes amid a broader crackdown on corruption in China’s finance sector, led by the Central Commission for Discipline Inspection (CCDI).
President Xi Jinping’s Anti-Corruption Campaign
The crackdown on corruption in the finance sector aligns with President Xi Jinping’s goal of transforming China into a financial superpower and mitigating financial risks. Over 30 state regulators, bankers, and senior financial executives have been detained since January as part of these efforts.