Jia Yueting, founder and ex-CEO of LeEco, formerly known as Leshi Internet Formation and Technology Co., was banned from China's securities market for life, according to a statement released by the Chinese Securities Regulation Commission on April 13.

The ban prohibits Jia from doing any securities business at any institution or serving as a director, supervisor, or senior manager of any listed or unlisted company in the country.

Jia set up Le.com, an online video portal under parent group LeEco, in 2004. It made a debut on China's NASDAQ-style board, ChiNext, in August 2010, but was delisted from the Shenzhen Stock Exchange in May last year after registering an annual loss for three consecutive financial years.