On january 15, according to the sourceThunderA formal complaint was filed against mr. Céo chen, accusing him of violating corporate interests. In response, the journalists asked about the staff member concerned and said that the matter was in fact before the relevant court in shenzhen。
This indictment has also given rise to a new debate about the sudden outbreak of ceo corruption five years ago. In april 2020, then ceo chen fu was summarily dismissed by the board of directors. According to media reports, several “crimes” have been identified by the source, chen qi: suspected of usurping the company's assets through false contracts。
In the same year, shenzhen city public security bureau filed a complaint against chen yi and others for alleged occupation of his position and entered the investigation stage. However, in order to evade the investigation, chen yi left the country in early april of the same year, together with dong cod, former senior vice-president of sunay, and used his united states citizenship status to remain in the country for long periods of time, refusing to cooperate in the investigation, which eventually led to the case being dropped。
Over the past five years, more real case details have surfaced as internal investigations become available。
Three years down a billion, floors."Empty the companyIt's not the same
If you look only at the curriculum vitae, chen li is a perfect technology company, the ceo: qinghua undergraduate, american master of arts, google microsoft inquirer. Following the endorsement by the forces in 2014 of the crashes, every step of the way has been set at the pace of the technological elite. Even more impressive is the fact that he is known for his profession as a saint。
In 2014, chen li left tseng tsun to join the cto. In those years, he used to say, "i'm not interested in money." these details, which have succeeded in painting an idealist image of non-eating fireworks, also gave him the status of rapid ceo in 2017。
After taking office, chen shui frequently appeared in various industry summits, which the media described as “the man who changed the fate of the thunderbolt”, “the elite ceo”, and at one point raised the price of the thunderbolt. However, barely one year after such a “perfect ceo”, the main operating income began to grow negatively and the net loss deteriorated。
According to statistics, chen yi lost almost $1 billion and almost one third of the company during the three years of rapid rains. The block chain operation, which chen qianxi pushed over, is the core source of losses. The central reason for chen li's dismissal is the alleged occupation of his post. - in its internal investigation, the rapids department found that chen li was using various positions to facilitate “empting companies”。
Ceo chen po
Nearly 200 million to the three company
According to a number of media reports, in an audit of the company, the rapid relay management found that a rapid-bandwidth supplier called henghing integration technology ltd., “empty” of chen yi's core means of thunder。
In the publicly available information, integration appears to have nothing to do with chen, but according to the rapid-action survey, integration is a company whose individual control is achieved through the “triple-segregation” of equity。
In 2019, when the integration was formed, chen yi placed his staff in it; in 2019-2024, the integration share changed to the name of zhao yu yi, then senior vice-president of the zhou lui group, who was then the mother of tung jiu, then the cyber-management, but the old man was not involved in any business。
And tung cod was a key figure in chen po's case. According to several staff members, chen li and tung cod, although both are married, their relationship is an open secret within the sun rai, and they even have illegitimate children while serving in the sun rai. The board of directors had asked chen yi about the relationship between the two persons, who were assured “in the name of their christian reputation” that there was no relationship other than that of their colleagues。
Since then, the company's shares have been transferred several times at a lower price of $1 and finally introduced as a nominal shareholder in shenzhen city's hung tech company, which is controlled by cod's mother and aunt。
There are no external receipts, and all revenues come from the nearly $200 million “bandwidth and service fees” of the network's cybertechnologies。
The approval process for these large sums is controlled by chen qi, who is a commercial employee reporting to cod, and to cod, who is the final judge. Chen shui and his cods allowed the unfunded, unstaffed and unqualified “tripolis” to be transformed into the core supplier of the mine。
The core carriers, such as the network of officials, the clearing system, and the app, are being provided free of charge by the network of tech teams of fully funded companies. It is equivalent to the amount of money collected by the mine itself and covers in full the operating costs of this “shadow company”。
Even a few days before chen’s dismissal, more than 30 mine cores were “retrenched” and integrated on the same day after receiving high compensation from the company, turning into employees of the “in vitro company”。
Conflict. Refusal to return assets
And chen li's reaction to heung's integration of the shadow company in media interviews andLegal proceedingsThere are two completely different attitudes。
In a number of media interviews in 2020-2024, chen qi repeatedly emphasized integration as a “network-connected enterprise” with business, people and a network of people, saying that they are “connected companies for corporate interests”, thereby justifying the transfer of up to hundreds of millions of yuan of money and people
According to the source, chen kui was removed in may 2020 and still wants to get himself a “free gold medal” by handing over. He explicitly listed integration as a “cyber-connected company” in his work e-mails, twice urging the “receiving” of the company. Chen failed to respond to the sudden and far-reaching nature of the events and the demands of the quick-action parties for a comprehensive approach. According to the source, “chen qi was rushing to turn over because he was trying to escape criminal charges in a swift criminal case, while bank accounts that had flourished in integration had been frozen by the courts and had been burdensome to him at the time”
During the period from 2020 to 2025, chen qi spoke first to the court about integration in a number of civil proceedings against him, in which he arranged for the interests of the network, which belonged to it. It was then completely retracted, arguing that integration was an “independent company” and had nothing to do with a cyber-company. According to a well-informed analysis, chen’s implication is that the money on the hing consolidated account is not a matter of speed and has no right of recourse。
Chen li has even repeatedly argued before a judge that he is not a quick miner to avoid legal accountability。
Power is out of control, lover executives and "empty" chains
According to several media sources, during chen yi's tenure as rapid ceo, the company's core powers were highly concentrated among its individual and very small elite groups. Among them, cod is the core role。
Like chen shui, tung cod is a former agent. It was reported that both were married but had established an improper relationship at the time of the interrogation. As a result, tung cod was brought together by chen shui, who was directly responsible for the market from the front-line employee, who earned 25,000 per month, to 126,000 per month。
However, it was reported by the source that chen li and tung cod went on vacation to switzerland in 2017, booking up to tens of thousands of dollars of a “diamond hotel”, which chen yi's wife in the united states had no knowledge of. Shortly after the trip, tung cod was promoted to become the senior vice-president of the sunay group, holding the core power of personnel and the business market, and earning a monthly income of $550,000 by various unusual means, the first person in the history of swiftness, far above the industry。
With the expansion of the cod terms of reference, its powers were quickly transformed into more hidden and direct transfers of benefits. According to a rapid internal survey, since october 2015, chen had given direct instructions to the treasury to enter all individual claims in full into the cod account, amounting to almost $4 million. In the same year, chen yu granted a separate privilege to tung cod to “additional monthly reimbursement”, which cumulatively exceeded 5 million。
A number of media outlets have disclosed a particular case in which chen li, during his term in office as ceo, instructed cod to arrange for a service agreement with a third party, hired two “technical experts” to serve as block chain technical advisers for cybertechnologies and paid over $2 million in consultancy fees. After the departure of chen and dong, the two “experts” in their 60-year-olds, relatives of tung cod in his home, the true occupation being a farmer, emerged. Only chen and dong are aware of what the $2 million consultancy fee is “advisory”。
Several staff members mentioned that they had turned their personal preferences into corporate culture, because chen and dong were religious and had asked their staff to sing a 20-minute hymn at the annual conference, “on the service of your boss, you can be recognized, promoted and paid a raise” as the “slow rules” of the company。
The company's other “subsequent rule” is to gain professional growth either by establishing close relationships with chen qi or by standing in the core group of the “backdoor”. According to the employee, chen kui asked him to “configure the kingsize bed and bath”. The employee indicated that chen had also purchased a horse bag for another female subordinate with company funds。
According to the first financial report, chen yi was removed from his post the night his former driver, yao yao, invited some of the security guards of cybertech to dinner, then obtained a security officer's door pass on the basis of the “supervised call to work at the company's machine room”, then entered the room late in the night to copy the data and source code, during which time the company's surveillance system discovered that yao had escaped. According to the source, yao yi is the cousin of cod。
Chen yi said in an interview with the media that he was “spoiled with dirty water”. However, he did not respond publicly to the reasons for non-compliance with the company's confidential data and more details of the connection between chen and dong. To date, the two individuals have not returned to cooperate with the investigation。
When will the waves really end
After several years of adjustment pains, thunderstorms are gradually coming out of the shadow of the past。
According to official financial reports released by thunderstorms, the company's total third quarter account was $126. 4 million, an increase of 57. 7 per cent over the same period last year, mainly as a result of increased subscriptions, live broadcasts and other services and cloud computing operations. Of this amount, $4. 91 million was received for live broadcasts and other services, representing an increase of more than 127 per cent over the same period, while the cloud computing operation contributed $36. 6 million, an increase of approximately 44. 9 per cent over the same period。
Against this background, the swift choice to reopen litigation at this time is inevitable from the logic of corporate governance: it is both for the judicial recovery of the real silver and silver that should belong to the shareholders and for the clear signal to the capital market that the old bill must be accounted for and that corruption will not be tolerated。
The company experienced its lowest performance during the period of chen yi's rapid performance. The central reason for this is not only misdirection of business, but also internal governance problems such as corruption of those in power, cronyism and the transfer of corporate assets, leading to a constant overdraft of the company's financial reserves and trust。
Rapidness offers the most profound lessons to other enterprises, perhaps the choice of career managers. The ability to assess a senior manager's profile, experience or past performance alone is often insufficient to protect against potential risks. In selecting career managers, enterprises need to pay attention to their ethical standards, power boundaries and loyalty to the company's long-term strategy, in addition to their operational capabilities. In other words, firms must limit their power to institutional frameworks through rigorous selection, oversight and incentive mechanisms to allow them to avoid repeating historical lessons。
Moreover, the largest operating risk for enterprises sometimes arises not from markets but from the uncontrolledness of internal power. During his tenure, chen shui and cod had a high concentration of core powers, resulting in a lack of oversight of decision-making and abuse of power. In such cases, companies, even if they have the potential to operate again, may be mired in long periods of decline as a result of internal corruption。
In an interview, zhu zhu zheng, an associate professor at the chinese university of political science and law, said: “senior managers are familiar with the operating mechanisms within the enterprise and have the corresponding powers. The violations are highly confusing and covert, and have a high awareness of counter-investigation. For example, the use of drawer agreements, the use of evidence such as the use of a trusted person in possession of a critical position or of a hand-held company, the absence of a written hand-held agreement, advance statements, remote control behind the scenes, and the disguise of improper misappropriation of funds in the form of prima facie legal contracts and transactions. On the other hand, if a suspect flees, it will make the case more difficult and easier to extract and destroy evidence, and the investigative capacity of law enforcement will be limited.”
As chen yi and associated personnel are currently overseas, chu has also indicated that this may affect the final outcome of the case. In the course of the investigation of a case, an enterprise is required to prove to the court that what appears to be hidden under a normal transaction is a violation of the law, but the communication of the true arrangement of the transaction, the movement of funds between other persons and outside enterprises, which is only available to the judicial authorities and the public security organs do not have extraterritorial enforcement powers, may encounter greater difficulties in the investigation and taking of evidence, which may lead to the case being dropped。
The last five years have been a brutal baptism for power, greed and reform. This is certainly not an isolated case, and it is worth the alarm of all businesses. Time can dilute public opinion but not responsibility. It is only when the facts are restored and the responsibility is legally clarified that this is truly over。
Zhu zhu stated that “in the face of the persistent corruption of executives, the initiative to take up legal weapons and insist on accountability, such as sunay, has far-reaching positive implications for deterring internal corruption, recovering economic losses and decontaminating industrial ecology”
