Former Xunlei CEO Chen Lei suspected of embezzling tens of millions of yuan for illegal cryptocurrency trading

Foresight News reports that, according to The Paper, Thunderbolt Corporation has filed a lawsuit against former CEO Chen Lei and his core team, accusing them of infringing on the company’s interests, with a claimed amount of 200 million yuan. The case has been accepted and filed by a relevant court in Shenzhen. Chen Lei recruited his hometown and close friends through former senior vice president Dong Diao, placing them in key positions within the company. Using illegal means such as fabricating transaction links and creating false contracts, they siphoned off company funds, involving a large sum. The new management team has already cleaned up and adjusted related businesses and personnel. Additionally, Chen Lei is suspected of embezzling tens of millions of yuan from the company to illegally trade cryptocurrencies, which is strictly prohibited by the state.

In 2014, Chen Lei joined Thunderbolt as Chief Technology Officer and was promoted to CEO in 2017. In 2020, Thunderbolt dismissed him on suspicion of embezzlement. Subsequently, the Shenzhen Public Security Bureau initiated an investigation into Chen Lei and others suspected of embezzlement. To evade investigation, Chen Lei and former senior vice president Dong Diao have left the country.