Latest news and articles about procurement fraud
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Xunlei has filed a Rmb200 million civil suit against its former CEO, alleging he diverted funds through a shell supplier and favoured relatives and a long‑term mistress in staffing and contracting decisions. The case highlights procurement vulnerabilities and governance failures that helped fuel heavy losses during an aggressive push into cloud and blockchain businesses, and follows a management reset that the company credits with a recent financial turnaround.
