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February 22, 2011 01:58 am GMT
Alibaba.com CEO David Wei and COO Elvis Lee have resigned this morning after an internal probe found that more than 2000 sellers on the e-commerce site were committing fraud, in some cases to the knowledge of Alibaba staff. The Hanzhou, China-based Alibaba told the WSJ that more than 100 sales staff (out of 5,000) were allowing fraudulent suppliers to fake the business registration papers needed to set up shop on the site. In some cases buyers never received items already paid for.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/wVOMLEyDGcM/
Alibaba.com CEO And COO Out Because Of Vendor Fraud
Alibaba.com CEO David Wei and COO Elvis Lee have resigned this morning after an internal probe found that more than 2000 sellers on the e-commerce site were committing fraud, in some cases to the knowledge of Alibaba staff. The Hanzhou, China-based Alibaba told the WSJ that more than 100 sales staff (out of 5,000) were allowing fraudulent suppliers to fake the business registration papers needed to set up shop on the site. In some cases buyers never received items already paid for.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/wVOMLEyDGcM/
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