Xiaomin Lye

Biography

In April, 2018 Lye was detained and expelled from the Communist Party of China (CPC).

In January, 2021 the former top manager of the Central Bank of China was sentenced to death for corruption. In the same month it was shot.

Lye of Xiaomin headed one of the largest Chinese asset management companies China Huarong Asset Management and was found guilty tens of points of charges.

He was accused of taking of a bribe for 1.79 billion yuans or $276.7 million when it worked and supervisory authority of the Chinese Central Bank.

Xiaomin did not disdain to take bribes for hiring of employees, promotion of subordinates on service or assistance in obtaining contracts to numerous structures. He was accused of plunder by more than 25 million yuans from public funds. Also will confiscate personal assets from it and will deprive of it the political rights. The death penalty was pronounced to Lye without two-year delay that speaks about special weight of the crimes committed by it. This formulation is usually added to court's decision and allows to replace the death penalty for 25 years or life imprisonment in two years.

The high-profile case about waste and fraud of the high-ranking banker shook the whole country. In local media it is reported that Lye had safes and cabinets complete of cash in his apartment in Beijing. At it gold bullions and luxury cars, the bank account addressed to his mother containing hundreds of millions yuans, and the real estate which he presented to numerous mistresses were also found. He was also a bigamist and had bastard children.

The state media transferred detailed recognition of Lye who told that he "did not spend any stolen property of yuan, and just saved up money".