Xunlei Files Lawsuit Against Former CEO, Claims 200 Million Yuan in Damages
On January 15, 2024, according to The Paper, Xunlei has filed a lawsuit with a Shenzhen court, accusing its former CEO Chen Lei and his core team of seriously damaging company interests, with the total claim reaching 200 million yuan.
Accused of Misusing Funds for Illegal Crypto Trading
Chen Lei is alleged to have diverted tens of millions of yuan in company funds for unauthorized cryptocurrency trading — a high-risk activity banned by the Chinese government. This misconduct reportedly disrupted Xunlei’s normal operations and financial integrity.
Chen Lei Fled Abroad to Evade Investigation
To avoid regulatory scrutiny, Chen Lei reportedly left China in early April 2020 and has not returned since. The case has now been officially accepted by the court, with investigations ongoing.
- Claim Amount: 200 million yuan
- Alleged Misconduct: Fund misappropriation, illegal crypto trading
- Chen Lei’s Status: Fled overseas, whereabouts unknown