A relatively low level official can't take this much bribes. More like a scapegoat.
This guy did it over 30 years so it is feasible.
Scapegoat isn't the right term but I think it is very possible he is being executed to essentially send a message. I think your bigger point that there are way more corrupt officials than just this guy involved seems very plausible.
The GDP of the city was 278.9 billion USD in 2025.