The world's largest drone-maker, DJI, has reported that it will take a loss of up to a billion yuan ($150 million) due to employee fraud, according to Bloomberg and other sources. The company said that it fired multiple employees who apparently inflated parts costs to pad their own pockets. DJI discovered the "extensive" corruption during an internal probe and has contacted law enforcement.
The corruption probe is one of the largest ever in the recent history of Chinese tech, according to Bloomberg. "DJI condemns any form of corruption strongly and has set up a high-level anti-corruption task force to investigate further and strengthen anti-corruption measures," the company said. According to the government-run China Securities Journal, over 40 individuals at the company have been investigated.
Since a crackdown by President Xi Jinping, Chinese companies have been forced to deal harshly with corruption lest they face serious consequences. DJI is a particularly high-profile company, as it owns three-quarters of the drone market, thanks to consumer models like the recent Mavic 2 and a burgeoning commercial business. It employees 12,000 people, and expects to grow to 14,000 by year's end.
"We are taking steps to strengthen internal controls and have established new channels for employees to submit confidential and anonymous reports relating to any violations of the company's workplace conduct policies," it said in a statement. "We continue to investigate the situation and are cooperating fully with law enforcement's investigation."
via engadget.com
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