29 May 2024 :

Bai Tianhui, former general manager of China Huarong International Holdings Limited, was sentenced to death for taking huge amounts of bribes by a court in Tianjin on May 28, 2024.
Bai was also deprived of his political rights for life, all of his personal property was confiscated, and all his illegal gains were recovered and turned over to the state treasury, according to the verdict of the No. 2 Intermediate People's Court of Tianjin.
The court found that between 2014 and 2018, Bai had taken advantage of his various positions to provide assistance to others in matters such as project acquisitions and corporate financing, illegally accepting bribes totaling 1.108 billion yuan (US$155 million).
The court ruling said Bai's acts constituted the crime of bribery. The amount of bribes involved was particularly huge, the circumstances of the crime were especially serious, and the social impact was extremely bad, causing significant losses to the interests of the country and the people. His acts of providing tip-offs for investigation of other cases were not sufficient to warrant a lenient punishment considering the facts, nature, and circumstances of his offenses, the court said.