Home
News
In Focus
Business
Metro
Nation
World
Sports
Feature
Opinion
View more »Opinion Columns
Wan LixinOpinion deputy editor of Shanghai Daily
Restaurants get off to a quick start thanks to game-changing policies
High service charges on event ticket refunds call for further regulation
Sunday
- Subscribe
Related News
Investigation for 'personal reasons'
By Winny Wang |
May 14, 2009, Thursday
|
Online Edition
Online Edition
SINOLINK Securities Co said today that its chairman Lei Bo is being investigated by authorities for personal reasons.
"Chairman Lei Bo is being investigated by authorities for personal reasons and the company is now in the charge of Wang Jinyong," the domestic brokerage said in a statement to the Shanghai Stock Exchange today.
The Chengdu-based brokerage, which was suspended from trading today for one hour, is running as normal and its staff and clients are stable, according to the statement. It offered no details about the case.
Caijing Magazine said today that the 51-year-old Lei used to work as the secretary of Wang Yi, former vice chairman of the China Securities Regulatory Commission, who was arrested on January 22 on bribery and other corruption charges.
Wang, also former vice president of China Development Bank, has been stripped of his Communist Party membership and all official posts for taking bribes, according to Xinhua news agency.
He took advantage of his posts to benefit his relatives' businesses and may face criminal charges, Xinhua said. Wang had reportedly confessed to accepting bribes exceeding 10 million yuan (US$1.46 million).
Wang's case is also linked to the investigation of Xiao Shiqing, the president of China Galaxy Securities Co.
The 45-year-old Xiao stepped down as the company's president last month and Caijing reported that Xiao had been arrested after being linked with a corruption case involving Wang.
The investigation of Xiao was a shock to industry insiders as he was expected to return to work with the China Securities Regulatory Commission this year, Caijing said.
"Chairman Lei Bo is being investigated by authorities for personal reasons and the company is now in the charge of Wang Jinyong," the domestic brokerage said in a statement to the Shanghai Stock Exchange today.
The Chengdu-based brokerage, which was suspended from trading today for one hour, is running as normal and its staff and clients are stable, according to the statement. It offered no details about the case.
Caijing Magazine said today that the 51-year-old Lei used to work as the secretary of Wang Yi, former vice chairman of the China Securities Regulatory Commission, who was arrested on January 22 on bribery and other corruption charges.
Wang, also former vice president of China Development Bank, has been stripped of his Communist Party membership and all official posts for taking bribes, according to Xinhua news agency.
He took advantage of his posts to benefit his relatives' businesses and may face criminal charges, Xinhua said. Wang had reportedly confessed to accepting bribes exceeding 10 million yuan (US$1.46 million).
Wang's case is also linked to the investigation of Xiao Shiqing, the president of China Galaxy Securities Co.
The 45-year-old Xiao stepped down as the company's president last month and Caijing reported that Xiao had been arrested after being linked with a corruption case involving Wang.
The investigation of Xiao was a shock to industry insiders as he was expected to return to work with the China Securities Regulatory Commission this year, Caijing said.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
