China's Shaolin Temple's 'CEO monk' under criminal investigation
The 59-year-old, whose original name is Liu Yingcheng, is alleged to have seriously violated Buddhist principles by maintaining relationships with several women over a long period and fathering at least one child, according to the temple's authorities.
He is "suspected of criminal offences, misappropriating and embezzling project funds and the temple's assets," the temple said in a statement.
Shi has "seriously violated Buddhist precepts, maintained improper relationships with multiple women over a long period of time" and fathered at least one "illegitimate" child, it alleged.
He is under joint investigation by several agencies, it added.
In a statement, the state-supervised Buddhist Association of China said it approved the revoking of Shi's ordination certificate.
His "behaviours are extremely deplorable in nature" it said, adding he has "seriously damaged the reputation of the Buddhist community and tarnished the image of monks".
On Sunday, an online notice claiming he was intercepted by authorities while trying to flee with his mistresses and children was dismissed as fake by officials, according to Chinese media reports.
Previously a member of China's parliament, Shi entered the Buddhist monastery, based in the central Chinese province of Henan, in 1981 and became its abbot in 1999, according to the temple's website.
It is not the first time he has faced such accusations. In 2015, he was accused of misconduct and improper sexual relations. The temple denied the allegations at the time, and according to news outlet Caixin Global, provincial investigation reports exonerated him of all charges in 2016.
The 1,500-year-old Shaolin Temple is also famous for its martial arts culture, or kung fu, which has been referenced in many movies and TV dramas, including the 1982 film The Shaolin Temple starring martial arts superstar Jet Li.
China's official news agency Xinhua in 2015 reported Shi earned the nickname "CEO monk" for commercialising the temple as one of the first Chinese monks to obtain an MBA (Master of Business Administration).
Shi sparked controversy for developing lucrative kung fu shows and merchandise including T-shirts, shoes, tea and a kung fu manual for 9,999 yuan (£1,040), during his decades-long tenure.
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