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Drone maker DJI reveals US$150 million fraud carried out internally

The DJI Mavic 2 is one of the most popular high-end drones on the market. (Source: DJI)
The DJI Mavic 2 is one of the most popular high-end drones on the market. (Source: DJI)
Drone maker DJI has discovered an internal racket that has defrauded the company of at least US$150 million. The theft is said to have involved multiple staff and led to their dismissal although the company is still investing the case, which it says is “extensive.”

The world’s leading drone maker DJI has uncovered a massive internal operation to defraud the company. At this stage, the Chinese company says that the theft totals at least US$150 million. Chinese authorities have been informed of the matter and a number of employees have been fired as a result. At this stage, the fraud appears to have resulted through its supply chain, with staff inflating the price of components at the expense of the company.

“We are taking steps to strengthen internal controls and have established new channels for employees to submit confidential and anonymous reports relating to any violations of the company’s workplace conduct policies,” the company said in a statement provided to Bloomberg. “We continue to investigate the situation and are cooperating fully with law enforcement’s investigation.”

DJI is one of the most successful drone makers in the world and currently dominates the US$9 billion drone market with a 75 percent share of all drone sales world-wide. Its products are sold through Apple stores among other channels which has helped to raise its profile but is also testament to the quality of its drones and cameras. With over 14,000 employees around the globe, the investigation could still take some time to fully uncover the extent of the damage.

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> Notebook / Laptop Reviews and News > News > News Archive > Newsarchive 2019 01 > Drone maker DJI reveals US$150 million fraud carried out internally
Sanjiv Sathiah, 2019-01-21 (Update: 2019-01-21)
Sanjiv Sathiah
Sanjiv Sathiah - News Editor
I have been tech-obsessed from the time my father introduced me to my first computer, an Apple ][. Since then, I have grown to enjoy exploring and experimenting with any computing platform that I can get my hands on – I am the definitive early adopter! I have always been interested in how we can use technology to shape and improve our lives, most recently using it to record, mix and master my debut record, Acuity – Nature | Nurture out now on Spotify.