Corrupt banker stashed $29 million cash in Beijing apartment

Bloomberg via Yahoo reports:

The former chairman of one of China’s bad banks has confessed to taking millions of yuan in bribes which he kept in metal cabinets in a Beijing apartment he nicknamed “the supermarket.”

Lài Xiǎomín 赖小民, former head of China Huarong Asset Management Co., has been charged with taking bribes, corruption and bigamy in one of China’s biggest financial corruption cases.

On Monday, he confessed in a state TV documentary [in Chinese] that he preferred cash payments and said he would drive trunk loads of bills to the apartment, where more than 200 million yuan ($29 million) was uncovered.

—Jeremy Goldkorn