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[CNet] Alibaba.com executives resign amid fraud probe

post #1 of 13
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Alibaba.com, the largest e-commerce site in China, announced today that two senior executives had resigned after an internal investigation found a rise in fraudulent activity on the site.

Chief Executive Officer David Wei and Chief Operating Officer Elvis Lee Shi-Huei were not involved in the rise in fraud but were taking responsibility for the "systemic breakdown" in the company's "culture of integrity," Alibaba Chairman Jack Ma said in a statement (PDF).

More than 2,300 fraudulent storefronts registered on the site in 2009 and 2010 as "Gold Suppliers," offering inexpensive electronics for sale to buyers overseas. However, no goods were delivered after payment was received, Ma said. The average buyer claim against fraudulent sites was less the $1,200, he said.
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Bails... (Abandon Ship!)

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post #2 of 13
Would like to deal with the sellers on Alibaba, but so difficult to trust these companies in China. Of course any country has it's share of fraudulent companies, but China has got to take the Cake.
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post #3 of 13
Quote:
Originally Posted by damian5000 View Post
Of course any country has it's share of fraudulent companies, but China has got to take the Cake.
LOL no, there's one country that's so corrupt it now regards corporations as individuals.
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post #4 of 13
Quote:
Originally Posted by Liranan View Post
LOL no, there's one country that's so corrupt it now regards corporations as individuals.
Surely you can't be talking about the grand old US of A. Come on man, land of the free home of the brave! (End sarcasm.)
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post #5 of 13
Quote:
Originally Posted by Liranan View Post
LOL no, there's one country that's so corrupt it now regards corporations as individuals.
There are far more fraudulent internet wholesalers in China than anywhere else in the world...Probably the rest of the world combined.

Whatever other mumbo you're talking about probably belongs in another thread, or another website altogether.
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post #6 of 13
Never hire a COO named Elvis!
post #7 of 13
How appropriate.
post #8 of 13
lol yeah my friend got scammed..
they send 3 times and the 4th big order he got scammed..
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post #9 of 13
Quote:
Originally Posted by damian5000 View Post
There are far more fraudulent internet wholesalers in China than anywhere else in the world...Probably the rest of the world combined.

Whatever other mumbo you're talking about probably belongs in another thread, or another website altogether.
Ummm actually he is correct, corporations have more rights here than an individual. It's actually really scary, even worse people don't know it. =(
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post #10 of 13
thank god i didnt decide to order speaker wire parts from there....
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