PROSECUTORS have ordered the arrest of Lai Xiaomin, former board chairman of China Huarong Asset Management Co. Ltd., said the Supreme People’s Procuratorate (SPP) yesterday .

The second branch of the Tianjin People’s Procuratorate has been processing Lai’s case after the National Supervisory Commission (NSC) completed the investigation and handed it over, the SPP statement said.

Lai was found to have violated the central authorities’ political discipline and rules, as well as principles and policies on financial work, according to an earlier statement released by China’s anti-graft authorities.

“He pursued personal glorification, engaged in superstitious activities and refused to cooperate in the investigation,” the statement said.

The Communist Party of China (CPC) Central Commission for Discipline Inspection and NSC announced in October that Lai had been expelled from the Party and dismissed from office for multiple violations.

(Xinhua)