Officials investigating the ex-boss of China Huarong Asset Management are reported to have seized about US$39.5 million in cash from properties owned by the businessman. Photo: AFP

Chinese corruption inquiry finds US$39 million in cash at homes of ex-boss of Huarong Asset Management

Lai Xiaomin, chairman of state-owned firm, has been under investigation for ‘serious discipline violations’ since April

Topic |   Corruption in China

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Officials investigating the ex-boss of China Huarong Asset Management are reported to have seized about US$39.5 million in cash from properties owned by the businessman. Photo: AFP
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