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China: Head Of Alibaba Online Video Site Arrested.

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Yang Weidong, the head of Alibaba’s video streaming platform has been arrested in China.

Weidong 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.
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