QINGDAO, April 29 -- Xu Xiang, general manager of Shanghai investment firm Zexi Investment, has been arrested in the eastern Chinese city of Qingdao for insider trading and manipulating stocks prices.
Qingdao's public security bureau announced the arrest on Friday along with that of Cheng Boming, general manager of CITIC Securities. Cheng is suspected of similar crimes to Xu.
Liu Jun and Xu Jun, another two senior members of CITIC staff, have also been arrested.
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