Corrupt socialite with empty coach full of gold ... (7)
I believe the answer is:
debauch
'corrupt' is the definition.
(I know that corrupt can be written as debauch)
'socialite with empty coach full of gold' is the wordplay.
'socialite' becomes 'deb' (I have seen 'Young socialite ' mean 'deb' so perhaps 'socialite' could also mean 'deb').
'with' says to put letters next to each other.
'empty' means to remove the middle letters.
'full of' indicates putting letters inside.
'gold' becomes 'Au' (Au is the chemical symbol for gold).
'coach' with its middle removed is 'ch'.
'deb'+'ch'='debch'
'debch' placed around 'au' is 'DEBAUCH'.
(Other definitions for debauch that I've seen before include "Seduce" , "Morally corrupt" .)