Ant Financial's Two Employees Sentenced for Taking Bribes

author: Belinda Zhou   

Two senior employees in Ant Financial Services Group, the finance arm of giant Alibaba Group Holding Ltd. (NYSE: BABA), have been arrested for accepting bribes.

The People's Court of Xihu District of Hangzhou published a report late last week saying that a business manager and a senior specialist from the Digital Entertainment Center of Ant Financial have accepted more than $1.9 million in bribes to approve an unqualified application and handle gambling and fraud complaints.