He is also suspected of issuing financial bills in violation of regulations, illegally issuing loans and concealing overseas deposits, said a notice on the Supreme People’s Procuratorate’s website.

The Beijing Municipal People’s Procuratorate made the decision “in recent days” to arrest He after an investigation by the National Supervisory Commission, the notice said.

China’s top graft-busting agency, the Central Commission for Discipline Inspection, announced in September that He was under investigation, the latest in a series of corruption probes into officials at government-run financial firms.

He, born in 1963, worked at state lenders Bank of China and Agricultural Development Bank of China before serving as a member of the Communist Party Committee at policy bank CDB.