After Lai Xiaomin, the former chairman of China Huarong, was arrested in April, investigators found a total of 270 million yuan (S$54 million) in cash in several of his properties, with a total weight of more than 3 metric tons, breaking the record for corrupt officials in China.
According to Hong Kong media Ming Pao, Wei Pengyuan, the former deputy director of the Coal Department of the Energy Bureau, was the former deputy director of the Coal Department of the Energy Bureau.In 2014, a large amount of cash was found in his home. At that time, the law enforcement officers burned down four money counters just by counting 230 million yuan in cash. I don’t know how much Lai Xiaomin’s 270 million yuan needed to be burned this time.Banknote counter.
According to the Chinese media Caixin.com, on August 3, China Huarong Group held a two-day 2018 mid-year work conference in Beijing.The meeting reported some staggering details of the Lai Xiaomin case. For example, the investigators found a total of 270 million yuan in cash in several properties of Lai Xiaomin.
According to the report, if calculated based on the new banknotes just out of the warehouse, a 100-yuan banknote weighs about 1.15 grams, a 10,000-yuan banknote weighs about 115 grams, and a 100-million-yuan banknote weighs 1,150 kilograms.The total weight of 270 million yuan in cash will reach 3.105 metric tons, if stacked together, it will exceed 3 cubic meters.
The website of the National Commission for Discipline Inspection of the Central Committee of the Communist Party of China announced on the evening of April 17 that Lai Xiaomin, secretary of the party committee and chairman of China Huarong Asset Management Co., Ltd., is suspected of serious violations of discipline and law, and is currently undergoing disciplinary review and supervisory investigation.
China Huarong is one of the four major financial asset management companies in China. It was listed in Hong Kong on October 30, 2015.The 2017 results show that China Huarong's total assets reached 1.87 trillion yuan. For details, please read: Lai XiaominHidden several tons of cash to break the record of super corrupt officials
Huarong Lai Xiaomin was finally investigated, what happened
Under the will of its head, Lai Xiaomin, the state-owned financial group Huarong has imported tens of billions of financial resources into a little-known private company. What is the secret behind this?
No one expected that the official investigation of Lai Xiaomin came so urgently.Until now (late night on April 18), the official website of China Huarong Asset Management Co., Ltd. (hereinafter referred to as Huarong) still has a photo and a brief introduction of Lai Xiaomin as party secretary and chairman.
At 9:00 a.m. on April 17, Lai Xiaomin was notified to attend a meeting of the China Banking Regulatory Commission and was announced on the spot to be investigated by the organization.According to the Caixin reporter, on Saturday three days ago, Lai Xiaomin was asked to accept an interview with the organization.
On the afternoon of April 12, Huarong held a media meeting at the China Banking Regulatory Commission.Lai Xiaomin arranged for three group leaders to introduce Huarong's performance and experience.At the same time, he himself planned to accompany senior leaders to visit the United States, but he did not expect to pass the review of relevant departments.After that, Lai Xiaomin still appeared and spoke at the Boao Forum in Hainan, but he did not get the opportunity to be arranged to take a group photo with the leader as usual.All these signs indicate that the day when Lai Xiaomin will be formally investigated is approaching.
On the evening of April 17, the website of the Central Commission for Discipline Inspection and the State Supervision Commission announced that Lai Xiaomin was subject to disciplinary review and supervisory investigation for suspected serious violations of discipline and law.This is also the first major financial case announced after the Central Commission for Discipline Inspection and the National Supervisory Commission jointly took office.
On the morning of April 18, the China Banking and Insurance Regulatory Commission went to Huarong to announce the appointment of a new leadership team.Wang Zhanfeng, the 51-year-old former director of the Guangdong Banking Regulatory Bureau, served as the party secretary of Huarong and was nominated by the board of directors for the chairman; the post of president of Huarong, which had been vacant for eight months, was replaced by the 58-year-old former deputy secretary of the party committee of Dongfang Asset Management Co., Ltd.Li Xin, chairman of the board of supervisors, took over.
On April 18, the special investigation team of the Central Commission for Discipline Inspection officially entered Huarong.The investigation will officially begin.
