Former CEO Misappropriated Funds for Cryptocurrency Trading, What Happened to ThunderCore?

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The U.S.-listed company Xunlei has issued an announcement accusing its former CEO, Chen Lei, of embezzling tens of millions of RMB from the company to speculate on cryptocurrency, arranging for relatives to create fake contracts internally to embezzle company funds. The Public Security Bureau of Shenzhen has initiated a formal investigation into Chen Lei and others suspected of the crime of embezzlement.

Original Video Source: DongDongGun

On the last day of the National Day holiday, the U.S.-listed company Xunlei released an announcement accusing its former CEO, Chen Lei, of embezzling tens of millions of RMB of company funds for cryptocurrency speculation, arranging for relatives to fabricate contracts within the company to embezzle company funds. The Shenzhen Public Security Bureau has initiated a criminal investigation into Chen Lei and others suspected of embezzlement. At the same time, Chen Lei left the country with his lover in April this year during the pandemic and has not returned.

What has Xunlei been through in these 20 years? Is Xunlei's journey more like a trip to the kindergarten or a race in the mountains?