(Yicai) Nov. 19 -- Wu Guofang, who once sat on the listing review committee for Shenzhen’s tech heavy ChiNext board, could not be contacted by Yicai today amid an ongoing anti-graft probe of the panel. Guosen Securities, where he works, did not respond to questions either.

Another former member of the panel, Li Xiaoqiang, was placed under investigation last week on suspicion of serious violations of discipline and the law.

Wu was a part-time member when the first oversight committee for initial public offerings on the ChiNext was set up in 2009. Li was also one of the 12 part-timers. The two were jointly re-elected to the panel for three consecutive terms. 

During his tenure, Wu took part in evaluating Dandong Xintai Electric’s IPO in 2012. The company was punished by the China Securities Regulatory Commission and forced to delist in 2016 for fraudulent issuance.

CSRC Vice Chairman Li Chao said in March this year that IPO reviews have seen a high incidence of corruption. A number of graft cases have been investigated this year involving CSRC officials, senior stock exchange executives, members of the ChiNext listing review panel, and staff at market intermediaries.

Wu previously headed up the CSRC’s legal and IPO supervision departments, and he was a business director at China Galaxy Securities. He joined Shenzhen-based Guosen Securities this March as president of its investment banking department.

Editor: Tom Litting