NetEase Execs Fired Over Money Laundering

An ongoing scandal at the Chinese gaming corporation NetEase has led to the arrest and firing of several high-ranking employees, including executives, on suspicion of money laundering and fraud. Nine employees, including the former head of the cybersports division, Xiang Lang, and the former director of the company's publishing division, Jin Yuchen, have been arrested. The allegations involve fraud and money laundering amounting to up to $140 million, although the actual extent of the corruption may be greater. The alleged corruption primarily took place within NetEase’s esports division and the distribution and marketing centers of NetEase Games. Additionally, 27 other companies are suspected to be involved in similar scams, and these companies have been blacklisted by NetEase. The investigation is ongoing, and NetEase has emphasized its commitment to an anti-corruption drive, denying any rumors of money laundering within the company[1][4][5] Hosted on Acast. See acast.com/privacy for more information.