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pcgamesinsider.biz

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NetEase execs arrested for alleged money laundering and bribery

China NetEase Legal reports Investigations Markets International

11.11.2024 - 11:13

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gamesindustry.biz:

Nine NetEase employees have reportedly been detained on money laundering and bribery charges amounting to an estimated $139.3 million.

As reported by Bloomberg Law, two senior executives were among those allegedly arrested – general manager Jin Yuchen and esports division head Xiang Liang.

The alleged corruption reportedly occurred within its esports and distribution and marketing sectors, according to Chinese news site Yicai Global.

An unknown number of external individuals linked to the anti-corruption charges are also being investigated, with NetEase adding that 27 external companies have been blacklisted due to connections with the conduct of those arrested.

According to an internal memo, the nine employees involved have since been fired from NetEase and are no longer listed on the firm's systems.

A NetEase spokesperson told Eurogamer that police were "investigating corruption charges but would not disclose more details at this time."

As noted by Eurogamer, this is reportedly the second internal anti-corruption investigation launched by NetEase since September 2023.

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