A Chinese court on Friday sentenced Yao Gang, a former vice-chairman of the China Securities Regulatory Commission, to an 18-year prison sentence, as Beijing continues a campaign targeting financial crimes.
The court decision included convictions on charges of bribery and insider trading, according to Chinese state media.
Yao’s fall from grace started several years ago, in the aftermath of China’s 2015 stock market crash, when anti-corruption authorities opened an investigation into alleged wrongdoing. The former official was removed from his post and expelled from the Communist Party last year.
The conviction is one of several recent high-profile cases of financial corruption. Last month, China Central Television reported the overseas arrest of Zhu Yidong, chairman of Fuxing Group, broadcasting his arrival in handcuffs at the Shanghai airport on the nightly news.