On August 25, according to the Financial Storytelling Conference, Feng Dian, the former general manager of the operation center of Kwai e-commerce service provider, gang embezzled 140 million yuan of subsidy funds. Feng Dian is responsible for approving the entry of service providers, formulating and implementing reward policies, and using his authority to collude with external suppliers, carefully designing a roadmap for embezzling company subsidies.
In the process of formulating subsidy policies, Feng Dian deliberately "reserved" loopholes, and then continued to leak internal operational data that should have been strictly kept confidential to familiar suppliers. Under the guidance of internal data, external suppliers will "customize on demand" and submit false application materials that meet the subsidy conditions, thereby transferring traffic subsidies that should belong to other merchants to their own name. In less than a year, a small group centered around Feng Dian illegally embezzled 140 million yuan in subsidy funds.
In order to launder and transfer the stolen money, the Feng Dian gang went to great lengths. They instructed their subordinates to quickly register a number of "shell companies" specialized in receiving Kwai rewards. After the "rewards" were received, they would transfer them layer by layer and finally remit them to the secret account controlled by Feng Dian's supplier brother.
For the sake of security, Feng Dian instructed his suppliers to use eight different overseas virtual currency trading platforms to exchange the huge amount of funds they defrauded into virtual currencies such as Bitcoin in batches, and to confuse the cryptocurrency trading path through various technical means to avoid being traced.
Subsequently, some of the funds involved in the case that were "whitewashed" were exchanged back into RMB through encrypted channels and flowed into personal or company accounts controlled by Feng Dian and his suppliers.
Feng Dian and seven other members of the gang were ultimately sentenced to 14 years and six months to three years in prison by the Haidian District People's Court for the crime of embezzlement, and were fined accordingly. More than 90 hidden bitcoins were also recovered.
In recent years, all Internet giants have been strictly investigating corruption.
On July 24, the Shanghai police reported the case of Han Liu, a former senior manager of Hungry Mall. Since July 2023, Han Liu and three other people have used their power to manage logistics distribution business to help suppliers obtain qualifications and collect huge bribes. More than 30 times they have accepted bribes amounting to more than 40 million yuan. At present, seven suspect have been taken criminal coercive measures.
On July 9th, Ma, the Operations Director of the Basic Platform Department of Vipshop Product Technology Center, was criminally detained by the public security organs on suspicion of duty crimes due to long-term collection of supplier benefits. Previously, in April 2025, Feng Jialu, Vice President of Vipshop, cooperated with the police investigation on suspicion of personal financial issues.
On July 2nd, Zhang Moumin, the former general manager of Bilibili's game cooperation department, was arrested by the police for serious job-related crimes.
In November 2024, NetEase reported that the former heads of its Battle and KK business units, Xiang Lang, and the head of the Interactive Entertainment Channel Distribution Center, Jin Yuchen, as well as several employees of the company, were suspected of fraud, corruption, and illegal activities and were subject to criminal coercive measures by the public security organs.
Guo Kexin, the former regional manager of Meituan's food delivery business in Gansu, Qinghai, and Xinjiang, was sentenced to three years in prison for soliciting or accepting more than 3.49 million yuan in property from agents; Feng, Regional Manager of Meituan Waimai Business Unit, and Huang, Sales Manager of Key Accounts, jointly received 5.4 million yuan from cooperative merchants in the name of "team building fees" over a period of three years. Both were sentenced to three years and six months in prison; Zou Libin, the channel manager of Meituan Waimai in the South China region, demanded more than 890000 yuan in property from agents and was sentenced to two years and two months in prison.
In April 2020, Wei Fang, former vice president of Baidu, was reported to the police for economic issues. The court found that Wei Fang had signed multiple false financial due diligence and tax consulting declaration agreements with Baidu through the financial and tax consulting company he actually controlled, and had embezzled a total of 9.792 million yuan of company funds. He was sentenced to six years in prison for embezzlement.
As Internet giants have increased their anti-corruption efforts, strengthened internal supervision, and established anti fraud mechanisms, they hope to effectively curb corruption and maintain the healthy development of enterprises and a fair market competition environment.
