Former head of China Huarong executed after conviction for major bribes
China has carried out the death sentence against Bai Tianhui, who previously held the position of head of China Huarong International Holdings Limited. He was found guilty of receiving large bribes and illegal material benefits while working in the company. The court ruled that the accused acted in violation of the current legislation and used his official powers to obtain personal gain and property bypassing the established procedures.
According to court materials, Bai Tianhui received property and various types of material benefits in the amount equivalent to approximately 157 million dollars. The violations covered the period from 2014 to 2018, when he held a senior position in a subsidiary of China Huarong. It was established that the received funds were transferred through various channels and were formalized under various official decisions. During the trial, documents and materials confirming the defendant’s participation in schemes of obtaining benefits in violation of established requirements were examined.
After completion of the judicial procedure, the decision came into force, and the sentence was carried out. The applied punishment corresponds to the current norms of Chinese criminal legislation, which provide for liability for corruption crimes on an especially large scale. In China such crimes are considered serious violations, providing strict sanctions including the death penalty.
China Huarong International Holdings Limited is one of the major financial structures of China and is engaged in asset management and corporate finance. The heads of such companies bear increased responsibility for operations related to the movement of capital, investment decisions and the distribution of financial resources. During the trial, facts were established about the use of official position to the detriment of established procedures and state interests.
Corruption crimes remain one of the directions of state policy of the PRC. The country has an anti-corruption system that provides for investigation of violations among employees of state structures and companies associated with financial operations. In recent years, China has regularly considered cases related to the illegal obtaining of property, abuse of authority and the use of official position in asset management.
Based on the results of the judicial process, Bai Tianhui was found guilty in full of the charges brought against him. The court decision entered into force after completion of all the required procedures. This case is one of the largest in terms of the established damage amount, which became the basis for applying the highest measure of punishment.
The consideration of such cases in China is aimed at controlling the activities of officials and preventing violations in the financial sphere. Within the existing law enforcement system, measures are taken to strengthen control over operations and limit abuses when making financial decisions. The authorities seek to prevent risks associated with the use of financial instruments bypassing legislation, and also to ensure compliance with established norms in the activities of economic structures.
The sentence against Bai Tianhui was carried out after completion of all procedures. The court decision was made based on current legislation and the provision on punishments for corruption crimes. The case became part of the practice of applying strict measures against individuals found guilty of financial violations involving significant amounts and long periods of time.