NetEase executives and workers were reportedly arrested amid a corruption investigation

NetEase execs, including Xiang Liang, face arrest for alleged laundering of 1 billion yuan. Company cuts ties with 27 implicated firms.

: NetEase executives, including Xiang Liang and Jin Yuchen, have been arrested on charges of money laundering and bribery. The investigation involves former employees accused of laundering between 800 million to 1 billion yuan. NetEase confirmed that nine staff members have been dismissed for bribery and business ties with 27 companies are severed. The company, known for games like Diablo Immortal and Naraka: Bladepoint, is under police investigation for possible corruption.

NetEase has been rocked by allegations of corruption, resulting in the arrest of former executives Xiang Liang and Jin Yuchen on money laundering and bribery charges. Reports from Game Developer and Leifeng suggest that up to 1 billion yuan, equivalent to $139 million, may have been laundered by these individuals and other former employees of the company. The situation has led to a significant internal investigation as confirmed by Bloomberg Law.

The impact of these developments extends beyond internal personnel actions, with NetEase reportedly dismissing nine staff members associated with bribery. Additionally, Yicai Global reported that the company plans to sever ties with 27 external companies linked to the alleged corruption, signaling a broader scope to the investigation's reach beyond its internal structure.

As a major player in the gaming industry, known for titles such as Diablo Immortal and Naraka: Bladepoint, NetEase's reputation faces potential damage amid these allegations. While the investigation continues, the company maintains its development plans, including upcoming releases like Marvel Rivals and Destiny: Rising, amid a gaming industry often marked by notable white-collar crimes.

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