Thunder sued former CEO Chen Lei, claiming he was suspected of misappropriating company funds for illegal cryptocurrency trading

According to a report by The Paper, Xunlei has filed a lawsuit against its former CEO Chen Lei and his core team, accusing them of harming the company's interests, with a claim amounting to 200 million yuan. The case has been accepted and filed by the relevant court in Shenzhen. Chen Lei recruited his hometown friends and close associates through Xunlei's former senior vice president Dong Xue, placing them in key positions within the company. They allegedly used illegal means such as fabricating transaction links and creating false contracts to siphon off company funds, involving a substantial amount.

The new management has already conducted a cleanup and adjustment of Xunlei's related businesses and personnel. In addition, Chen Lei is also suspected of embezzling tens of millions of company funds for illegal cryptocurrency trading, which is explicitly prohibited by the state.

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