Yang Weidong, the head of Alibaba’s video streaming platform was arrested on Monday on suspicion of accepting improper payments, Alibaba revealed in a statement. He is now under police investigation and has been removed from his position as president of the video site Youku, according to a statement Alibaba filed with the US Securities and Exchange Commission on Tuesday.
The statement reads in part:
Alibaba Group is committed to the highest standards of business conduct. We do not tolerate any form of unethical or unlawful conduct.