China: Former Kuaishou executive arrested for alleged corruption amid anti-bribery pressure on China’s Big Tech

Kuaishou Technology, China’s second-biggest short video platform that recently went public in Hong Kong, confirmed on Thursday that its former vice-president Zhao Danyang has been arrested for alleged corruption.

Zhao joined Kuaishou in February 2015 and was mainly responsible for the company’s content business. Li Lei and Xu Juan, Zhao’s subordinates at Kuaishou, were also arrested for suspected misappropriation of company assets, Kuaishou confirmed to the South China Morning Post. The news was first reported by Chinese media outlet Tech Xingqiu on Wednesday.

While the arrest happened in September last year, Chinese police have yet to release any official statement.

Kuaishou did not elaborate on the details of the case or whether the company has any anti-corruption measures in place.

The original full article can be found at scmp.com

(Photo: Bloomberg)

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