According to the Reuters news agency, Yu Zhifei, a key promoter of the China Grand Prix, was sacked for using company money to pay for a house and other ‘illegal behaviour”.
Anti-corruption officials were investigating Yu in connection with a social security scandal “involving the misuse of more than 3 billion yuan ($391 million) of the city's social security fund,” Reuters said.
The scandal, which broke in July last year, has implicated over 50 people in what has been described as the city's largest corruption case since economic reforms started in the 1980s.
The general manager of China’s Shanghai International Formula One Circuit has been sacked after an investigation into alleged criminal activity
