China Semiconductor Fund Graft Scandal Widens as Another Executive Probed, Sources Say

A high-profile corruption scandal involving China’s biggest semiconductor investment fund continues to widen, with another executive at a company that runs the government-backed institution said to be under investigation, Caixin has learned from multiple sources familiar with the matter.

The probe into Yang Zhengfan, deputy head of an investment division under Sino IC Capital Co. Ltd., which manages the China Integrated Circuit Industry Investment Fund, may be linked to the case involving ex-Sino IC Capital president Lu Jun, Caixin has learned. The sources did not elaborate on Yang’s suspected transgressions.