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, “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,”

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 12,000 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.

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