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relates to Tesla to Launch Solar Roof Business in Europe Next Year relates to Battery Startup With $4.5 Billion Plan Has Vision for Nordic Hub relates to Top Equity Hedge Fund Cashes In on Online Dating relates to Facebook’s Libra in Focus as U.S. Group Visits Switzerland relates to What Your Snapchat Selfie Has in Common With the Army relates to CDC Looking Into Pulmonary Illness Linked to E-Cigarettes relates to SoftBank to Lend Employees Up to $20 Billion for Fund, WSJ Says relates to Amazon, Swatch, Daimler and the Risks of a Global Recession relates to Novartis CEO Says FDA Process Could Have Been Handled Better
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Alibaba Says China Police Arrest 36 in Probe of Website Scams

Alibaba Says China Police Arrest 36 in Probe of Website Scams

Chinese police arrested 36 people after a probe of fraud on Alibaba.com and other websites that cheated overseas buyers out of more than $6 million, Alibaba Group Holding Ltd. said.

The people are accused of using Alibaba.com and other websites to imitate legitimate vendors and sell products to businesses outside of China, spokesman John Spelich said today, confirming a report in Alizila, an Alibaba-owned news site. Chinese suppliers pay a fee to list merchandise on the site, and Alibaba.com says it has an authentication process to check that suppliers are credible.

The suspects were arrested from April 11 to 15 after an investigation involving Alibaba.com and police from the city of Hangzhou, where Alibaba Group is based, Alizila reported. Alibaba.com has refunded $1.94 million to victims of the scam, the website said.

Alibaba.com said in February that it found more than 2,300 vendors used its website to defraud global buyers, prompting its then chief executive officer and chief operating officer -- who weren’t accused of wrongdoing -- to resign. The number of fraud complaints received by Alibaba in June fell 70 percent from February, Spelich said.

Sunnyvale, California-based Yahoo! Inc., the largest U.S. Web portal, is the biggest shareholder of Alibaba Group. Yahoo shares rose 15 cents to $15.04 at 4 p.m. New York time in Nasdaq Stock Market trading yesterday.