Prosecutors have ordered to arrest Lai Xiaomin, former board chairman of China Huarong Asset Management Co. Ltd., a procuratorate in northern China's Tianjin Municipality said on Wednesday.
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.
