Skip to content


Harry Cassin
Publisher and Editor

Andy Spalding
Senior Editor

Jessica Tillipman
Senior Editor

Bill Steinman
Senior Editor

Richard L. Cassin
Editor at Large

Elizabeth K. Spahn
Editor Emeritus

Cody Worthington
Contributing Editor

Julie DiMauro
Contributing Editor

Thomas Fox
Contributing Editor

Marc Alain Bohn
Contributing Editor

Bill Waite
Contributing Editor

Shruti J. Shah
Contributing Editor

Russell A. Stamets
Contributing Editor

Richard Bistrong
Contributing Editor

Eric Carlson
Contributing Editor

CMGE removes nine execs amid bribe probe

Image courtesy of CMGEChina Mobile Games and Entertainment Group said Thursday it has reassigned its president and eight other executives after news about an internal bribery investigation at the firm leaked to the press.

The Hong Kong game-maker said it is “currently unaware of any evidence of bribery.”

But “nevertheless, in order to provide the highest level of transparency to its shareholders, [an] independent committee has been formed to look into and address the market speculations circulating in the market,” it said.

CMGE develops and publishes mobile games in China for Android and iOS-based smartphones. It has 72 games and 113 million registered users. In 2013, it reported $58 million in revenue and net income of $4.4 million.

Last Friday, without mentioning bribery or any investigation, the company announced that nine executives had been “removed” from their positions as part of an “organizational restructuring” of its publishing business.

Xiao Jian, CMGE’s chief executive, said this week the executives are still employed, pending the results of the investigation.

After news of the bribery probe first surfaced last week, Nasdaq OMX Group halted trading in CMGE’s shares and asked for additional information. The company’s statement Thursday enabled it to keep its stock listing.


Julie DiMauro is the executive editor of FCPA Blog and can be reached here.

Share this post


Comments are closed for this article!