![A woman walks past a signboard of CITIC Securities at its head office in Beijing A woman walks past a signboard of CITIC Securities at its head office in Beijing](https://api.time.com/wp-content/uploads/2015/08/rtxxzbp.jpg?quality=85&w=2400)
China continued its probe this week into recent irregularities in the stock market, naming two more executives of the country’s top brokerage firm CITIC Securities in an investigation into market manipulation and insider trading.
A total of eight employees from CITIC were taken in for questioning by Chinese police on Tuesday along with two officials of the China Securities Regulatory Commission and a reporter for prominent business magazine Caixin accused of spreading false information, the South China Morning Post reported.
The detained brokers, suspected of “malicious short selling” that led to the Chinese stock market’s recent volatility, include CITIC’s managing director Xu Gang and two members of the investment bank’s executive committee named Ge Xiaobo and Liu Wei. They are also suspected of forging government documents.
“The severity of the problem and the depth of the investigations turned out to beat many people’s expectations,” a source connected to CITIC told the SCMP. “It is a sign more influential securities-industry officials will be uncovered as the authorities deepen investigations.”
[SCMP]
More Must-Reads from TIME
- Welcome to the Noah Lyles Olympics
- Melinda French Gates Is Going It Alone
- What to Do if You Can’t Afford Your Medications
- How to Buy Groceries Without Breaking the Bank
- Sienna Miller Is the Reason to Watch Horizon
- Why So Many Bitcoin Mining Companies Are Pivoting to AI
- The 15 Best Movies to Watch on a Plane
- Want Weekly Recs on What to Watch, Read, and More? Sign Up for Worth Your Time
Write to Rishi Iyengar at rishi.iyengar@timeasia.com