Hui-Yu Tian, the former president of China Merchants Bank, was sentenced to death for bribery and insider trading. The court ruled that Tian made more than $41 million from the stock market while using confidential information to which he had access.
Tian is a long-time executive in the world of the Chinese economy, he has worked for more than three decades in some of the largest state-owned financial institutions in China. The sentence comes as Chinese President Xi Jinping works to purge the financial system of corruption.