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Tencent

Alibaba exec and former Tencent employees detained by Chinese authorities

By Ryan Daly
July 9, 2015, 4:58 PM ET
General Economy Images In Shenzhen
The Tencent Holdings Ltd. building stands in the Nanshan district in Shenzhen, China, on Thursday, Dec. 19, 2013. Chinese households' concentration of wealth in real estate is magnifying the danger to the world's second-largest economy of any property bust, as the nation grapples with the consequences of its record credit surge. Photographer: Brent Lewin/Bloomberg via Getty ImagesBloomberg Bloomberg via Getty Images

In light of a recent internal investigation, a half dozen former Tencent Holdings Ltd employees and current Alibaba Group Holding Ltd executive Patrick Liu became entangled in a graft probe. “An internal investigation brought to light bribery and corruption among some online video employees,” Tencent said in a statement to Reuters.

Patrick Liu, president of Alibaba Group’s digital entertainment business unit, was the only name released of those detained.

“We understand Patrick Liu with our digital entertainment unit has been detained by the authorities. This issue is related to his time at Tencent and has nothing to do with Alibaba,” wrote Alibaba spokesman Robert Christie in an email.

 

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