PANews, July 19 - According to Caixin, Qian Fenglei, known as a 'billionaire tycoon', is involved in a stablecoin investment and financing project that combines secondary market operations, drawing money from both the stock market and cryptocurrency circles. He is suspected of selling multiple unregulated collective investment schemes to the public in Hong Kong.
It is reported that Qian Fenglei, a wealthy businessman from Zhejiang who was injured and hospitalized in central Hong Kong over four years ago, made a high-profile return to the public eye at the beginning of 2025 by shooting a video as a 'billionaire tycoon' in Central, Hong Kong. Half a year later, recent contacts close to Qian revealed that he, along with several companies under his actual control, including Hengfeng International, is suspected of selling multiple collective investment schemes that have not been approved by the Hong Kong Securities and Futures Commission to the public in Hong Kong. When Alibaba was listed in the United States, Qian Fenglei stood next to Jack Ma and was seen as a 'friend of Jack Ma'. In the past, he was also given the nickname 'Qian Duoduo' by actor Li Yapeng for his charitable contributions.
