Alibaba Says CEO Wei Quits After Probe Into Fraudulent Suppliers

Alibaba.com Ltd. said Chief Executive Officer David Wei and Chief Operating Officer Elvis Lee quit after a company investigation found fraud involving some customers who use its website to sell goods.

Wei and Lee, who weren’t involved in any of the activities that led to claims by buyers of fraudulent suppliers, resigned to take responsibility for the “systemic breakdown” in the company’s culture of integrity, according to a company statement today.

To contact the reporter on this story: Mark Lee in Hong Kong at wlee37@bloomberg.net
To contact the editor responsible for this story: Young-Sam Cho at ycho2@bloomberg.net