DJI suffer 147.6 Million Dollar fraud in China

DJI suffer 147.6 Million Dollar fraud in China

At a meeting in Shenzhen that perhaps did not include sandwiches DJI handed 16 employees over to law enforcement officials and a further 29 were dismissed.

The news outlet, Yicai Global, believes more than 100 DJI employees might be involved and losses may exceed 147.6 Million US Dollars.

It appears that the group inflated prices by as much as 20 per cent and skimmed off the excess.

A DJI spokesman said,

“We hold our employees to the highest ethical standards and take any violation of our code of ethics very seriously. During a recent investigation, DJI itself found some employees inflated the cost of parts and materials for certain products for personal financial gain. We took swift action to address this issue, fired the bad actors, and contacted law enforcement officials. We continue to investigate the situation and are cooperating fully with law enforcement’s investigation.

“These actions do not represent DJI, our culture, or our 14,000 employees, who work hard every day to serve customers and develop cutting-edge technologies. 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 ethical and workplace conduct policies.”

DJI, of course, didn’t lose any money in this con, it was the consumer that suffered.

If anything this incident rather underlines the size of DJI, 100 people are a drop in the ocean in a company of 14,000 employees.

It amazes me that such a large amount of money was skimmed off, an amount that might be close to the total value of all US multirotor makers.

Gary Mortimer

Founder and Editor of sUAS News | Gary Mortimer has been a commercial balloon pilot for 25 years and also flies full-size helicopters. Prior to that, he made tea and coffee in air traffic control towers across the UK as a member of the Royal Air Force.