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GLD 399.01+0.1%Dec 19 4:00 PM EST
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To: bull_dozer who wrote (188399)6/4/2022 11:51:34 PM
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Chinese ex-securities regulator handed suspended death sentence

Tong Daochi, a former senior Chinese official who has worked at the World Bank, has been given a suspended death sentence for bribery, becoming the latest high-ranking Communist party member punished under President Xi Jinping’s anti-corruption campaign.


The 54-year-old who has also worked at the Rand Corporation, a US-based think-tank, was sentenced after allegedly netting more than $41mn from bribes and insider trading.

Tong’s sentence was the latest in a growing number of cases targeting the intersection between finance and the state.


Since 2012, Xi has targeted “tigers and flies”, or high- and low-ranking government officials, for alleged corruption. The crackdown has ensnared about 2mn officials, including Xi’s political rivals and dissenters as well as legitimate cases of graft.

ft.com
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