Caixin: Yang Zuoxing, founder of Shenma Mining, was arrested on suspicion of embezzlement of 100,000 yuan

Caixin reported that recently, the People's Procuratorate of Nanshan District, Shenzhen City, Guangdong Province approved the arrest of the criminal suspect Yang Mouxing for the crime of embezzlement. It was Yang Zuoxing, the founder of Shenzhen Bit Micro Electronic Technology Co., Ltd. (hereinafter referred to as "Bit Micro"). An insider told Caixin reporters that Yang Zuoxing was actually taken away at the end of October. "On October 29, major events happened to the three major mining machine manufacturers. Bitmain was in internal strife, Canaan Creative went public, and Yang Zuoxing of Shenma Mining Machine was arrested." The insider said that Shenma Mining Machine is the mining machine giant second only to Bitmain, with a market share of about 40%. In addition, Bitmain previously reported the case to the Beijing Haidian police on the grounds of infringing on trade secrets, and the procedure had been going on for one or two years. This time, the Shenzhen police detained Yang Zuoxing on suspicion of embezzlement of 100,000 yuan. Although the case value is not large, it has been transferred from the civil field to the criminal field. I don't know how it will develop in the future.

Original link: http://finance.caixin.com/2019-12-15/101494334.html