Alibaba.com's top execs depart following scandal
Alibaba Group, China's e-commerce behemoth that last month announced a possible tie-up with PE investors, has come under scrutiny for its alleged role in allowing fraudulent vendors to set up storefronts on its B2B domain Alibaba.com, prompting the website’s CEO David Wei and COO Elvis Lee to depart the company.
According to reports, an internal investigation revealed that more than 2,300 vendors on its leading website were frauds, passing knock-off products for the real goods, sometimes assisted by Alibaba's...
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