The former Formula One racing boss in China has been sentenced to four years in jail for embezzlement, the latest person disgraced in a financial scandal in Shanghai.

China’s ruling Communist Party, reeling from a corruption epidemic that has seen senior party chiefs jailed around the country, warned today that the fight against graft was a long way from being solved.

THE Communist party boss of Shanghai has been sacked for corruption, state media said yesterday, toppling the highest leader so far in national party chief Hu Jintao’s drive to root out abuse and enforce loyalty.

Shanghai’s top leader was today dismissed for alleged corruption, the highest level official to be axed in more than a decade as President Hu Jintao moves to consolidate his power.