CHINESE BANKER STASHED CASH BRIBES AT BEIJING PAD HE CALLED ‘SUPERMARKET’

The New York Post on 14 January carried a report claiming that a disgraced banker involved in one of China’s biggest financial-corruption cases drove around with a trunk full of cash bribes that he later stashed in an apartment he called “the supermarket”.  He was Lai Xiaomin, the former chairman of distressed-debt investor China Huarong Asset Management.  More than $29 million was eventually discovered by authorities.  Lai was arrested in November 2018 and has been accused of taking more than nearly $232 million, in bribes, according to news reports, through his positions as an ex-Communist Party chief and head of Huarong.

https://nypost.com/2020/01/14/chinese-banker-stashed-cash-bribes-at-pad-he-called-supermarket/

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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