(Bloomberg) -- Chinese authorities telling the nation’s top banking executives to expect a deeper corruption crackdown on the $60 trillion financial sector suggests that President Xi Jinping’s anti-graft campaign is continuing to evolve.

The recent probe into the former chairman at China’s fourth-largest bank, an announcement of inspections of several state-owned enterprises and the disappearance of star banker Bao Fan all suggest that the campaign may pick up steam. 

Read more: China Warns Top Bankers of Deepening Crackdown on Corruption

At least 20 financial executives have been probed or penalized since late February. Here are some of the most high-profile cases in recent years: 

Liu Liange, Bank of China

Liu, who was removed from Bank of China Ltd.’s party chief role in February, is suspected of “serious violations of discipline and law,” the Central Commission for Discipline Inspection said in a one-sentence statement last week. 

Little details are known about the probe into the former chairman, which marks the first time in decades that a top executive at one of China’s “Big Four” state-owned banks has been investigated. 

Wang Bin, China Life Insurance 

Wang was prosecuted by the People’s Procuratorate of Jinan in January after a probe into allegations of bribery and concealed offshore deposits, according to the Supreme People’s Procuratorate. He was placed under investigation in January 2022, and later expelled from the Communist Party and arrested. 

China’s anti-graft agency had accused the former chairman of China Life Insurance Co. of refusing to implement policies that could prevent financial risks, and of intervention in market activities.

Fan Yifei, People’s Bank of China 

The deputy governor of China’s central bank was placed under investigation by the anti-graft agency in November for “suspected severe violations of discipline and laws.” Although no statement or announcement was made by the PBOC, Fan’s name is no longer on the list of top executives on the bank’s website. 

Cai Esheng, former banking regulator

Cai was prosecuted in June last year on charges of taking “huge” bribes and abuse of power. Before his retirement in 2013, the former vice head was in charge of supervising non-bank financial institutions, including trust firms and bad-debt managers such as China Huarong Asset Management Co.

Hu Huaibang, China Development Bank

Hu was sentenced to life imprisonment in early 2021 on charges of corruption. He was found guilty of taking bribes totaling 85.5 million yuan ($12.4 million) during his tenure at China’s largest policy bank between 2009 and 2019. 

A China Central Television report in 2018 also identified the former chairman for helping facilitate a $4.8 billion credit line to the now failed conglomerate CEFC China Energy Co.

Lai Xiaomin, China Huarong 

Lai was condemned to death in early 2021 in one of the most severe sentences in Xi’s anti-corruption drive. Charges against the former chairman included taking 1.79 billion yuan of bribes during 2008 and 2018. Lai was also found guilty of corruption as well as bigamy. 

Lai oversaw China Huarong from 2012 until he was placed under probe in 2018. Huarong, one of four bad-debt managers set up in 1999 to help clean up China’s banking system, had deviated from its mandate under Lai and later received a $6.6 billion government-orchestrated bailout. 

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