A billion yuan: corruption in DJI led to the largest theft in the history of Chinese technology

According to Bloomberg and other sources,DJI, the world's largest drones manufacturer, said that due to employee fraud, it would suffer losses of up to one billion yuan ($ 150 million). The company said it fired several employees who overstated the cost of spare parts to put the rollback in their pockets. DJI identified “extensive” corruption during an internal investigation and contacted law enforcement.

DJI lost billion yuan due to corruption

This corruption case may be one ofthe largest in the history of Chinese technology. “DJI strongly condemns any form of corruption and set up a high-level anti-corruption task force to further investigate and strengthen anti-corruption measures,” the company said. They say that more than 40 people were involved in the scheme.

After the decree of President Xi Jinping, the Chinesecompanies were forced to fight corruption in order not to face serious consequences. DJI is a particularly prominent company because it owns more than 75% of the market for unmanned drones, thanks to popular consumer models. It employs 12,000 people.

“We are taking steps to strengthen the internalcontrol and created new channels for employees to provide confidential and anonymous reports regarding any violations of workplace behavior policies in the company. We continue to investigate the situation and fully cooperate with the investigating authorities. ”

But what comment did the DJI itself provide:

"DJI adheres to strict ethical standards forour employees and takes any violations of our code of conduct very seriously. In a recent investigation, the company itself discovered that some employees overestimated the cost of parts and materials for certain products for personal financial gain, which, according to DJI estimates, could cost the company up to 1 billion yuan. However, the year 2018 for DJI has not become completely unprofitable.

DJI took quick measures to resolve this problem, dismissed a number of employees who violated the company's policies and contacted law enforcement officers. ”

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