Former Bank Exec Expelled from Party in Sex and Money Scandal

A former executive of China's top development bank has been kicked out of the ruling Communist Party of China for abusing his power in a variety of ways, including influence-peddling involving money and sex, the party's anti-graft watchdog said Tuesday.

Yao Zhongmin, former head of the supervisory board of China Development Bank (CDB) and a member of the party, violated party discipline rules by "obtaining gifts and money, engaging in power-for-sex and money-for-sex deals and securing interest for other people and getting benefits in return," the Central Commission for Discipline Inspection (CCDI) said on its website.