By staff reporter Li Qing

(Caijing.com.cn) Authorities have added another financial executive's name to a list of suspects investigated in connection with possible securities market fraud.

Communist Party investigators who've followed a trail from former regulators to securities brokers have now trained their sights on Li Kejun, a former party secretary and vice director at Hongyuan Securities Co. (SZSE: 000562), a source familiar with the situation told Caijing.

The probe has been under way since May 22, the source said, although it's not clear why Li, 46, is being investigated.

Hongyuan announced Li's resignation in a company statement May 25. Board Secretary Gao Tao will replace Li as vice director. 

Li also holds positions as party committee member and assistant to the president at China Jianyin Investment Co., the parent of Hongyuan's controlling shareholder China Jianyin Investment Securities Co. The firm has been notified of the Li investigation, the source told Caijing.

Li is the third senior securities executive targeted by investigators in the past month.

Xiao Shiqing, formerly of China Galaxy Securities Co., was arrested by police in May on unspecified criminal charges connected to his former job as a securities regulator, Caijing learned. And Lei Bo, formerly of Sinolink Securities Co. (SSE: 600109), has been under investigation for "personal reasons" since mid-May, the company said.

Full Chinese story: http://www.caijing.com.cn/2009-06-03/110177043.html

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