Cash-Stuffed Secret Hideaway Discovered in Chinese Banker's Apartment
- Ex-chairman of Huarong confesses in state TV documentary
- Lai arrested in 2018 amid broader crackdown on corruption
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The former chairman of one of China’s bad banks has confessed to taking millions of yuan in bribes which he kept in metal cabinets in a Beijing apartment he nicknamed “the supermarket.”
Lai Xiaomin, former head of China Huarong Asset Management Co., has been charged with taking bribes, corruption and bigamy in one of China’s biggest financial corruption cases.