The second branch of the Tianjin Municipal People's Procuratorate filed charges before the city’s second Intermediate People's Court against Lai Xiaomin, former board chairman of Huarong Asset Management Co., for bribery, corruption and bigamy. 

Lai was director of the General Office of China Banking Regulatory Commission, deputy secretary and chairman of Huarong Asset Management Co..

During his term, Lai allegedly abused his authority to seek illegitimate interests for others, asked for and illegally accepted huge amounts of property, illegally possessed huge amounts of public property with others, and entered into a marriage with someone for a long time while still legally married to another.