Chinese court sentences former Alibaba exec to 7 years for bribery
BEIJING Aug 8 (Reuters) - A Hangzhou court has sentenced former Alibaba Group general manager Yan Limin to seven years in prison for bribery after his arrest in July last year.
The court on Wednesday said Yan, who rose to become general manager of Alibaba's group-buying site Juhuasuan, had accepted bribes worth more than 538,000 yuan ($88,000). Alibaba removed Yan from his position in March 2012 for gross misconduct.
Alibaba, China's biggest e-commerce company, is expected to file for an initial public offering in the coming months that may value the company at more than $100 billion.
The court also found several other former Juhuasuan and Taobao employees guilty of involvement and handed down sentences to them.
"As we have stated in the past, behaviour of this sort will not be tolerated and the court's verdict speaks for itself," said John Spelich, a spokesman for Alibaba.
Alibaba is unaware of any other investigations into its employees since Yan's arrest in July 2012, said Spelich.
(Reporting by Paul Carsten; Editing by Matt Driskill)
- Malaysia air probe finds scant evidence of attack: sources |
- Search widened as Malaysia air probe finds scant evidence of attack |
- Exclusive: Chinese raw materials also found on U.S. B-1 bomber, F-16 jets
- Confrontation in Ukraine as diplomacy stalls |
- Freescale loss in Malaysia tragedy leads to travel policy questions