【Chen Lei, former CEO of Xunlei, allegedly misappropriated tens of millions of yuan from the company 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 infringing on the company's interests and seeking compensation of up to 200 million yuan. The case has been accepted and registered by relevant courts in Shenzhen. Chen Lei recruited his relatives and close friends through Dong Xue, a former senior vice president of Xunlei, placing them in key positions within the company. He then used illegal means such as fabricating transaction procedures and falsifying contracts to siphon off company funds, involving a massive amount of money. The new management team has since carried out cleanup and reorganization of Xunlei's business operations and personnel. Additionally, Chen Lei is suspected of misappropriating tens of millions of yuan from the company for illegal cryptocurrency trading, which is strictly prohibited by the state.

Chen Lei joined Xunlei in 2014 as 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 initiated an investigation into Chen Lei and others suspected of embezzlement. To avoid investigation, Chen Lei and Dong Xue, former senior vice president of Xunlei, have fled overseas.