The China Securities Regulatory Commission (CSRC) has decided to ban several senior members of LeEco from entering securities market for life, including its founder Jia Yueting and CFO Yang Lijie, according to a statement of the commission on Tuesday. 

Jia Yueting, the de facto controller of the internet company providing video streaming services and technology devices, was fined 241 million yuan ($36.8 million) by the Beijing Office of CSRC for financial fraud on Monday.

Leshi, video streaming unit of LeEco established in 2004, was fined 240 million yuan on Monday by the securities regulator for financial fraud from 2007 to 2016, which led to false disclosure in its initial public offering application materials.

Leshi made its debut on China's NASDAQ-style board ChiNext in August 2010. It was delisted from the Shenzhen bourse last May after reporting huge losses for three consecutive years.

Jia once made Leshi immensely popular in China as it spent aggressively on streaming rights to draw in viewers. The company later expanded into making smartphones, TVs and electric cars, which incurred heavy debt.

Jia filed for personal bankruptcy in the U.S. with personal net debt of around $2 billion in 2019.