Gaming IndustryNetEase employees arrested in alleged multi-million-dollar fraud scheme that involves nearly 30 companiesWhen you purchase through links on our site, we may earn an affiliate commission.Here’s how it works.
Gaming IndustryNetEase employees arrested in alleged multi-million-dollar fraud scheme that involves nearly 30 companiesWhen you purchase through links on our site, we may earn an affiliate commission.Here’s how it works.
When you purchase through links on our site, we may earn an affiliate commission.Here’s how it works.
(Image credit: NetEase)
Late last week,Bloombergand the Chinese outletLeifengreported that several NetEase employees have been arrested for money laundering and bribery. The company is currently developing theOverwatch 2competitorMarvel Rivalsand themobile game Destiny: Rising.
Another Chinese outlet,yicaiglobal, has also reported that the old head of NetEase Games' distribution and marketing centre, Jin Yuchen, is also under investigation. Aside from NetEase employees, the outlet also alleges that 27 unnamed companies have also been blacklisted due to connections with the laundering scheme.
There have been a few estimates as to the extent of the fraud. Some reports indicate amounts of up to 2 billion yuan ($277.8 million) were involved, but Game Developer reports that the actual price is likely closer to 800 million to 1 billion yuan ($111.4 million to $139.3 million).
Earlier this year, we saw a similar case unfold withSonic co-creator Yuji Naka, who was fined $1.2 millionand given a suspended jail sentence for insider trading. Naka was first arrested back in 2022 while he was still at Square Enix. The main accusation was that he bought shares in Aiming Inc., with the foreknowledge that Square Enix would be collaborating with the studio on Dragon Quest Tactics, a mobile game. Naka was also accused of buying ATeam shares just before it began work on a Final Fantasy 7 mobile game.
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The company also said the incidents will have no impact on its ongoing games includingMarvel RivalsandDestiny Rising.
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