(Yicai Global) Oct. 31 -- Several members of the China Securities Regulatory Commission (CSRC) in charge of examining securities issues are under investigation over a matter that may relate to the IPO of Leshi Internet Information & Technology Corp. Beijing [SHE:300104] (LeTV) -- a company now mired in a financial tarpit -- an insider disclosed.

Subject to investigation from late July to early August, the commissioners, worked at three accounting firms and served as members of the Issuance Examination Commission of the A-share Growth Enterprise Market (GEM), the insider said, as finance.qq.com reported yesterday.

Another commissioner sitting on the Issuance Examination Commission and working at a law firm was also investigated in mid-month, but whether this involved LeTV is uncertain.

After joining the GEM in 2010 and subsequently issuing its shares, LeTV came under the market's lens over its poor ranking among China's internet firms in network flow, the continual increase of its copyright acquisition fees, poor sustainability of its profit model and other problems. The financial crises that have beset LeTV this year have induced its suspension for over six months now.

Yao Gang, the former Vice Chairman of CSRC and Li Liang, the former Deputy Director of the Issuance Supervision Department of GEM, among others, have had cases filed against them and are subject to prosecutorial investigation for bribery, with both implicated in misfeasance in LeTV's IPO.