Report: China Development Bank official arrested

A top official of the state-run China Development Bank under investigation for alleged corruption has been arrested, a report said Tuesday.

Caijing, a state-run financial magazine, reported on its Web site that Wang Yi, a former vice president of the bank, was suspected of allegedly taking more than 10 million yuan ($1.5 million) in bribes.

Wang was detained in June amid a probe into what state media reports said were alleged "severe disciplinary violations."

Caijing did not name its sources but said it had confirmed, through "many …