Tuesday, July 14, 2020
Home Business Chinese police say Tencent likely swindled by chilli sauce impostors By Reuters

Chinese police say Tencent likely swindled by chilli sauce impostors By Reuters

© Reuters. FILE PHOTO: A Tencent sign is seen at the World Internet Conference in Wuzhen, China

SHANGHAI (Reuters) – Chinese police on Wednesday said Tencent appears to have been duped by a group of people masquerading as representatives of China’s best-known chilli oil maker, Lao Gan Ma, after the internet giant accused the latter of breaching a contract.

The dispute emerged earlier this week after a Shenzhen court said it would freeze 16.24 million yuan ($2.3 million) worth of assets belonging to Lao Gan Ma at the request of Tencent Holdings Ltd (HK:), who had sued the manufacturer for failing to pay advertising fees under a 2019 contract.

Lao Gan Ma in a statement said it never signed such a contract and had reported the matter to police.

On Wednesday, police in the southern city of Guiyang said it had arrested three people accused of forging Lao Gan Ma’s company seal – used in China to formalise documents – and pretending to be staff from the firm’s marketing department who signed a cooperation agreement with Tencent.

“The aim was to obtain online game package codes that Tencent gave away as part of its promotional activities, which they later resold online to illegally profit,” Guiyang police said in a statement posted on its official Weibo (NASDAQ:) account.

Tencent, China’s biggest video game and social media firm, did not immediately respond to a Reuters request for comment.

The topic has become one of most discussed issues on China’s Twitter-like Weibo, with over 230 million views.

Lao Gan Ma, which is headquartered in Guiyang and whose name translates to “old godmother”, is one of China’s best-known food brands, selling millions of bottles of its distinctively red labelled chilli oil at home and abroad annually.

($1 = 7.0686 )

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link


Please enter your comment!
Please enter your name here

Most Popular

5 big questions about Coinbase’s rumored IPO

A news report last week claimed that Coinbase, the country’s most prominent cryptocurrency company, is exploring an initial public offering. The report said...

Lack of teaching in darker skin prompts Black medical student to create handbook addressing bias

In addition to bias, a lack of inclusive materials and resources available for healthcare providers furthers the disparities POC individuals face when accessing...

Recent Comments

Translate »