China launches discipline probe into 3 more Henan officials as fallout from banking scam continues
- Officials from local branches of the China Banking and Insurance Regulatory Commission and central bank under investigation
- Henan and Anhui will start a third round of repayments on Monday to depositors affected by the ‘complex’ banking scam
Three more financial officials in the central province of Henan have been put under investigation for “suspected severe disciplinary violations”, Chinese regulators said on Friday, as authorities rush to stem fallout from a banking scandal.
The China Banking and Insurance Regulatory Commission (CBIRC) announced the disciplinary probes into Guo Qin, a senior researcher of the provincial branch, and Xia Jun, the head of its sub-branch in Kaifeng city, in two statements on its website on Friday.
Separately, Zhao Dewang, head of the financial stability department at the People’s Bank of China’s branch in Zhengzhou, the provincial capital, was placed under investigation, the Henan anti-corruption watchdog announced on its website.
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Victims of one of China’s worst financial scandals attacked by unidentified men in white at protest
Authorities last week announced disciplinary action against Li Huanting, a senior inspector at the Henan branch of CBIRC, who was once responsible for overseeing the banks in question. He was the first regional financial official put under investigation after news of the bank scam broke.
Depositors from four rural banks in Henan and one in neighbouring Anhui have been unable to withdraw money since April, with the loss estimated at around 40 billion yuan (US$6 billion).
