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Baidu Accuses Former Executive of Corruption – Variety

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Baidu, China’s main on-line search group, has reported a former government to the police. It accuses him of corruption.

Wei Fang, a former VP on the firm, was investigated by Baidu’s skilled ethics committee. The corporate didn’t disclose the character of the alleged corruption.

It mentioned that Wei was VP of finance in 2018, and held supervisory roles at greater than a dozen Baidu subsidiary firms.

Since Xi Jinping turned China’s president in 2012, the non-public and public sectors have each stepped up anti-corruption campaigns.

Baidu arrange its personal ethics committee in 2011 and has investigated greater than 100 staff. Final yr it fired 14 staff for 12 instances of inner corruption, starting from bribery, to dealing in commerce secrets and techniques.

Typically thought-about as a part of a triumvirate of main tech firms in China, alongside Alibaba and Tencent, Baidu’s actions stretch from search and maps to AI and self-driving vehicles.

Baidu additionally holds a majority stake in streaming big iQIYI, which final month was accused of fraud by a staff of American activist buyers. IQIYI has denied the claims of Wolfpack Analysis, which accused it of inflating consumer numbers and income, whereas additionally hiding the fraud from auditors and buyers by overpaying for content material, acquisitions and different belongings.

The strikes observe the revelations at two U.S.-traded Chinese language companies. Luckin Espresso was compelled to confess that its revenues had been inflated by $312 million (RMB2.2 billion) final yr. TAL Schooling Group mentioned on April 7 {that a} workers member had been taken into custody for inflating gross sales figures.

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