A Second Ex-Huarong Executive Sentenced to Death Over Bribery

(Bloomberg) — China has sentenced an ex-official with China Huarong International Holdings Ltd. to death with no reprieve on bribery charges, giving a rare death sentence for a second time in recent years to a senior financial executive as the authorities step up crackdown on financial crimes.

Bai Tianhui, a former general manager at the unit of bad asset manager China Citic Financial Asset Management Co. Ltd., was handed the sentence by a Tianjin court on Tuesday, according to China Central Television. Bai had committed “serious crimes” and taken a “huge amount” of bribes totaling 1.1 billion yuan ($153 million), the report said.