The bizarre legal beef erupted last spring, when China-based DIY manufacturer Vevor saw $55 million in tools and other home-improvement merchandise locked up at Egreen Transport Corp’s warehouses across California, Georgia and New Jersey, according to court documents.

By the summer, the dispute over unpaid rent had escalated – with Egreen accusing Vevor of vandalizing its offices and an executive’s Tesla, hiring goons who impersonated cops and even making death threats against its owner, according to an October lawsuit in California state court that has since sparked a criminal probe in the US and China. 

‘Enough money for a down payment on a home’

The conflict reached a boiling point ahead of the July 4 weekend, when a Vevor executive allegedly entered one of Egreen’s California warehouses and attempted to bribe an employee for private information about the owner of Egreen, a Los Angeles-based logistics firm that also had been shipping Vevor’s goods to retailers like Home Depot, according to court filings. 

Photo of alleged security personnel hired by Vevor and sent to Egreen’s warehouse. Obtained by the NY Post

According to an Egreen source with direct knowledge of the incident, the Vevor executive offered “enough money for a down payment on a home.” A former Vevor employee corroborated the account.

Days later, mysterious ads appeared on Facebook and other social media posting “contract killing threats against Egreen’s owner and his family,” according to Egreen’s complaint filed Oct. 24 in California state court. 

While law enforcement investigations remain active, the lawsuit on Feb. 17 was withdrawn without prejudice – meaning it can be refiled at a later date. Vevor was never served.

In a statement, Vevor’s parent company Hong Kong-based HK Sishun Trade Co. said: “We take these claims with the utmost seriousness. The suggestion of any involvement in a ‘contract killing’ is not only false but deeply irresponsible. We deny all accusations in the strongest terms.” 

Cars outside Egreen’s headquarters were allegedly vandalized by Vevor associates. Obtained by the NY Post

“Sishun will respond to any allegations that are properly made and properly served at the appropriate time in court,” the attorney, Alan Engle of Cross-Border Counselor LLP, said in an email. “It appears that most of the allegations you mention were made by Egreen in an unserved complaint and lack plausibility on their face.” 

Amazon ‘unable to take action’

Amazon, led by CEO Andy Jassy, has seemingly turned a blind eye to the mounting complaints against Vevor – which, as The Post reported has been accused of selling defective tools on the site linked to deaths and injuries. 

As the conflict escalated in July, Egreen’s attorney fired off a letter to Amazon detailing Vevor’s alleged threats and harassment identified in the lawsuit. One of Amazon’s in-house lawyers responded by requesting more information, including copies of police reports and alleged violations of Amazon’s policies.

Nevertheless, the Amazon lawyer said the company was “not in a position of a court or law enforcement agency” and “unable to take action at this time,” according to the letter which was shared with The Post by Egreen.

The shattered glass door at Egreen’s offices. Obtained by the NY Post

As exclusively reported by The Post, Vevor has faced recalls and multiple wrongful death and injury lawsuits linked to its products on Amazon. It has previously denied that its products are of inferior quality. 

As of this month, Vevor — which has reportedly racked up more than $500 million in yearly sales on Amazon — remains active on the site and does not appear to have faced any disciplinary action from the e-commerce giant.

Amazon did not respond to multiple requests for comment from The Post about the dispute between Vevor and Egreen.

Cops probe ‘murder for hire’ claims

The explosive allegations have sparked a criminal investigation – by not only police in California but also law enforcement in Shanghai, The Post has learned.

Amazon CEO Andy Jassy speaks at an event. REUTERS

Amazon did not respond to multiple requests for comment. REUTERS

“Shanghai is involved due to the murder for hire posts,” said Gerardo Medina, who was an investigator of the Riverside County Sheriff’s Office handling the case until he was promoted to sergeant earlier last month.

Medina said that after securing a court order, he and other officers on Nov. 20 searched Vevor’s US headquarters in Rancho Cucamonga, Calif. Evidence gathered in the search led to “an investigative lead” for Shanghai’s law enforcement, Medina told The Post, adding that the Chinese officers have shared information with him and vice versa.

“The murder for hire posting appears to have been committed in China,” Medina said.

The police advised the executive at Egreen to hire private security guards to protect himself and his family, according to two sources with knowledge of the situation.

Egreen alleged that Vevor associates blocked the entrance to its warehouses using U-Haul trucks. Obtained by the NY Post

The scary conflict is spilling into public view even as Vevor has launched a bricks and mortar push, opening up its first ever US store in Houston on Feb. 13, according to the company. In March, Vevor announced a sponsorship deal with the NBA’s Houston Rockets. The team did not respond to a query for comment.

Vevor’s new flagship, which bears bright orange signage similar to Home Depot’s, is focused on a buy online, pick up in store model, Vevor said in a press release. 

In December, Vevor created a pop-up store in Times Square, where shoppers could trade in used tools for new ones for $9.90 a pop.

Vevor: Egreen ‘not a reliable partner’

Management at Egreen claimed last March it was owed $48 million in unpaid storage and legal fees as it sequestered Vevor’s inventory, according to the October lawsuit. It was alerted to the alleged ads on Facebook and on the Chinese social media platform Rednote, the employee said. 

The alleged hit man ads included photos of a top Egreen executive and allegedly offered $200,000 for information including his home address and as much as $5 million to kill him or his son, according to multiple sources who saw the posts before they were taken down. 

Vevor recently struck an official partnership with the NBA’s Houston Rockets. VEVOR x HOUSTON ROCKETS

In a statement, Vevor denied the allegations, claiming Egreen was “not a reliable partner” and that the lawsuit “may be a deliberate attempt to damage our reputation in the context of an ongoing business disagreement.”

Vevor cast itself as the “victim” in the dispute, claiming that the Sheriff’s search warrant “stemmed from Egreen’s unwarranted interference with our normal business operations by withholding our inventories even though we have reached a Settlement Agreement with them under which millions of dollars have been paid by Sishun,” according to the statement.

“We will fully cooperate with law enforcement should an investigation be initiated, and we are prepared to take all necessary legal actions to protect our company’s integrity.”

‘Fake police vehicles’

Local police have responded to at least five emergency calls by Egreen officials, according to court filings. A number of police reports in California have been filed, the sheriff’s office confirmed, but they remain under seal.

Egreen claimed that Vevor used U-Haul trucks to block its warehouse gates, “dispatching fake police vehicles and individuals impersonating armed officers,” at its facilities east of Los Angeles and in Savannah, Ga., according to the complaint.

Vevor’s partnership with the Houston Rockets was announced in March. VEVOR x HOUSTON ROCKETS

Egreen’s suit filed in San Bernardino County also accused Vevor employees of “vandalizing Egreen’s Los Angeles offices by shattering its glass door with a pellet gun,” according to court documents. The Post has reviewed alleged photos of the damage.

That was as Vevor filed for a restraining order in July in California federal court to get its inventory back. A judge denied the request on Aug. 1.

Vevor, for its part, has alleged that Egreen demanded “rate increases and additional payments” that Vevor and its parent HK Sishun Trade Co. did not agree to, according to a lawsuit Vevor filed against Egreen in March 2025 in the US Central District of California after its inventory had been confiscated.

Vevor acknowledged that its beef with Egreen has involved the police. In March, Vevor said it was “forced to hire security personnel to monitor EGreen’s warehouses and the status of Sishun’s property,” according to its federal lawsuit. “This has led to confrontation at least one warehouse location where police were called.”

Egreen called police numerous times when U-Haul trucks blocked its entrances, according to court documents. Obtained by the NY Post

This lawsuit was settled, but Egreen claimed Vevor did not comply with the repayment terms of their settlement and didn’t release Vevor’s merchandise from its warehouses. Egreen has since been selling Vevor’s inventory to make up for the fees it is owed, a former Vevor employee claimed.

Sources close to Egreen declined to comment on whether the company is liquidating Vevor’s merchandise. Egreen’s contract with Vevor allows it to do so, according to court filings.

The companies began working together in 2020 as Vevor was ramping up its business in the US. Egreen handled the lion’s share of Vevor’s US logistics, storing inventory and fulfilling online orders, and played a key role in its rise as a prominent seller on Amazon. 

The relationship had soured by late 2024, with each side laying the blame on the other in court documents. 

Egreen alleges that Vevor repeatedly pressured it to lease more warehouse space – first in Los Angeles and later in Savannah, Ga. and North Brunswick, NJ, while pledging levels of shipping volume that never materialized.

Footage from a security camera outside an Egreen warehouse in California during the height of the feud. Obtained by the NY Post

Signs of more trouble surfaced in January 2025, when Egreen was forced to pay a $580,000 fine to the US Department of Labor to settle allegations of unpaid wages, housing its Chinese workers in overcrowded apartments and coercing them into working 12-hour shifts.

Egreen blamed the violations on Vevor in court filings, alleging that the penalties occurred “as a direct result of the pressure” that Vevor imposed “to expedite deliveries” and that the impacted workers had “worked exclusively” on the Vevor account.

In a statement, Egreen claimed it has endured “reputational damage… despite acting in good faith, Egreen has been forced to bear the legal, public and operational consequences of a crisis caused by Vevor.”

Vevor was founded in 2007 by Shanghai-based Rubao Jiabo, who started out in the apparel industry, according to a report on Chinese sellers by Brands Factory.

The post Major Chinese seller on Amazon allegedly solicited ‘contract killing’ in feud with US warehouse owner: lawsuit appeared first on Our Story Insight.

Chen Zhi, chairman of Cambodia-based multinational conglomerate Prince Group, was arrested by law enforcement officials in Cambodia and extradited to China, Cambodian government officials said on Wednesday.

Cambodia’s interior ministry said it arrested Chen on Tuesday at the request of the Chinese government “within the scope of cooperation in combating transnational crime.”

Chen Zhi, the chairman of Prince Group, is pictured during a public appearance in Cambodia prior to his arrest. Prince Holding Group

Chen, who is a naturalized Cambodian citizen, was subsequently extradited to China, according to the Wall Street Journal.

It is unclear if Chinese authorities intend to indict Chen.

A so-called “pig butchering” scam is a form of cryptocurrency fraud in which victims are slowly groomed through fake online relationships before being steered into bogus investment platforms.

Scammers spend weeks or months building trust — often posing as romantic interests or successful investors — before convincing targets to transfer cryptocurrency to accounts they control, draining victims of their savings once they attempt to withdraw funds.

The Justice Department announced in October that it was seeking Chen’s arrest on charges of wire fraud and money laundering after seizing 127,271 bitcoin, which at the time was worth around $15 billion.

Asked for comment Wednesday, the DOJ referred to an October press release in which Attorney General Pam Bondi said: “By dismantling a criminal empire built on forced labor and deception, we are sending a clear message that the United States will use every tool at its disposal to defend victims, recover stolen assets, and bring to justice those who exploit the vulnerable for profit.”

An image circulated by investigators shows an injured man alleged to have been held inside a scam compound linked to the network tied to Chen Zhi. United States District Court Eastern District Of New York

Since October, bitcoin’s value has fallen by nearly 30%.

Prosecutors say the stolen cryptocurrency was funneled into lavish personal spending, including luxury watches, high-end artwork, yachts, private jets and prime real estate, with authorities freezing assets such as a $16 million London mansion, a $126 million office building in the city’s financial district and even a Picasso painting purchased in New York.

Chen and Prince Group have denied the allegations.

China does not have a formal extradition treaty with the United States, raising questions about whether Chen could ever be transferred to face charges in US court.

Start your day with all you need to know

Morning Report delivers the latest news, videos, photos and more.

Thanks for signing up!

Extraditions between the two countries are rare and typically handled through ad hoc diplomatic arrangements rather than a standing legal framework.

Chen is alleged to have operated massive online “scam centers” that used trafficked workers and forced labor to defraud victims in the US, UK and at least a dozen other countries.

A man bearing visible marks on his face is shown in an image provided by authorities documenting alleged abuse inside a scam compound. United States District Court Eastern District Of New York

US authorities allege that Chen and Prince Group owned and operated at least 10 scam compounds across Cambodia where thousands of workers — many of whom were trafficked from China — were held against their will and forced into labor that entailed blackmailing or tricking people into making fake investments.

Authorities say many of the trafficked workers forced to run the scams were themselves victims, recruited with promises of legitimate jobs before having their passports confiscated and being subjected to threats, beatings and confinement if they failed to meet fraud quotas.

The US government has alleged that Chen and Prince Group used their political influence and paid bribes in order to avoid criminal liability in China.

Dozens of people are seen sitting on the ground during a law enforcement raid at an alleged online scam operation in Cambodia. United States District Court Eastern District Of New York

Brooklyn federal prosecutors unsealed an indictment in federal court alleging that Chen assumed the alias of “Vincent” and “mastermind[ed]…a spawling cyber-fraud empire operating under the Prince Group umbrella, a criminal enterprise built on human suffering.”

According to the Justice Department, Chen’s operation had “malicious actors” contact “unwitting victims through messaging or social media applications and convinced them to transfer cryptocurrency to specified accounts based on false promises that the funds would be invested and generate profits.”

“In reality, the funds were stolen from the victims and laundered for the benefit of the perpetrators.”

US officials have described the alleged scheme as one of the largest cryptocurrency fraud cases ever uncovered, with victims often drained of life savings after being lured into fake online relationships that slowly funneled them into bogus investment platforms controlled by the organization.

Federal prosecutors continue to pursue the forfeiture of seized cryptocurrency and investigate other alleged members of the network.

The Post has sought comment from the Chinese Embassy in Washington, DC.

The post Chinese tycoon tied to $11B ‘pig butchering’ bitcoin scam taken into custody appeared first on Our Story Insight.

The electric automaker said Friday it recorded deliveries of 418,227 in the fourth quarter, down 16% from the same period last year.

In a consensus posted on its website on Dec. 29, Tesla said analysts were expecting a 15% drop to 422,850 vehicles. Wall Street had expected roughly 426,000 vehicles, per StreetAccount.

Tesla deliveries plunged in the fourth quarter of 2025 to 418,227 vehicles. Getty Images

Its overall 2025 deliveries plunged 8.6% to 1.64 million – down from 1.79 million in 2024.

Tesla shares were off 0.4% at $447.77 in mid-morning trades on Friday.

Meanwhile, Chinese rival BYD said Thursday that sales of its battery-powered cars jumped nearly 28% to 2.26 million units – a stinging defeat after Musk years earlier dismissed the competitor and laughed at their products during a Bloomberg interview.

Tesla suffered a sales slump this year as it faced heated competition in the EV sector from BYD, South Korea’s Kia and Hyundai and European automaker Volkswagen.

Investors grew concerned about the company’s focus on artificial intelligence and robotics during earnings calls, instead of present-day opportunities. 

Musk’s brand also suffered blowback from his ties to the Trump administration, earlier this year leading the cost-slashing body known as DOGE – leading to massive federal layoffs and cutting billions in foreign aid.

Protesters swarmed Tesla showrooms across the country as Tesla vehicles across the country have been set ablaze with molotov cocktails or vandalized.

Tesla also experienced some brand damage in European markets after Musk endorsed Germany’s far-right party, AfD; signaled support for British anti-Muslim activist Tommy Robinson; and called for the European Union to be abolished.

Workers clean vehicles at a BYD factory in Brazil. AMERICO ROBERTO/EPA/Shutterstock

Wedbush Securities analyst Dan Ives said in a note Friday while Europe has been a “continuous headwind” for Tesla, he expects sales in the region to bounce back once the automaker’s Full Self-Driving technology is approved by European regulators.

In the first 11 months of 2025, Tesla’s European registrations plummeted 39% – while BYD saw registrations in Europe skyrocket 240% over the same period.

But Tesla’s deliveries rebounded to a record in the third quarter as American shoppers rushed to take advantage of a $7,500 federal tax incentive for EVs before it expired on Sept. 30.

The automaker also rolled out pared-back versions of its Model Y SUV and Model 3 sedan, each less than $40,000, which helped dull the effect of the tax incentive disappearing.

Tesla has officially lost its spot as the world’s top EV seller to Chinese rival BYD. AP

Despite poor results and mixed investor sentiment, Tesla shares ended 2025 roughly 16% higher. Musk bought $1 billion worth of shares in September.

Also on Friday, Tesla said it deployed 14.2 gigawatt hours of battery energy storage products in the fourth quarter, following a record of 12.5 gigawatt hours in the previous period.

Its battery energy systems include backup batteries for homes and larger systems for power-hungry data centers.

The automaker is slated to report its full fourth-quarter earnings on Jan. 28.

In November, shareholders approved a jaw-dropping $1 trillion pay plan for Musk dependent on a series of lofty performance targets over the next decade – like delivering 20 million vehicles and 1 million “Optimus” humanoid robots. 

Musk threatened to leave the company if the historic pay package was shot down.

The post Tesla loses spot as world’s top EV seller to Chinese rival after car deliveries plunge 9% in 2025 appeared first on Our Story Insight.

The sale, which was reported by The Wall Street Journal, caps a meteoric eight-month run for the Singapore-based startup.

It was generating more than $125 million in annual revenue and was valued at $500 million in its last funding round before Meta swooped in with an all-cash buyout of existing investors.

Meta, led by CEO Mark Zuckerberg, acquired a Singapore-based AI startup for more than $2 billion. AP

Manus was founded by Chinese entrepreneurs and originally operated out of Beijing under the startup Butterfly Effect before relocating.

The company’s origins set off alarm bells in Washington amid intensifying US-China tech tensions.

Sen. John Cornyn (R-Texas), a senior member of the Senate Intelligence Committee, previously blasted American investors for backing the company, warning against funneling US capital into AI firms with Chinese roots during a period of strategic rivalry with Beijing.

Meta has moved to neutralize those concerns, insisting the acquisition leaves no residual China exposure.

The company told The Post all Chinese investors were fully bought out, Manus will shut down its China-facing products and operations, and employees based in China will be relocated or cut off from sensitive systems.

The company has also said Manus staff joining Meta will not have access to customer data and that its AI models will remain geo-fenced — steps aimed at heading off a potential national security review and keeping regulators at bay.

“Meta’s acquisition of Manus AI will enable us to provide the most advanced technology to our users with safeguards in place to eliminate areas of potential risk,” a Meta spokesperson told The Post.

Manus was founded by Chinese entrepreneurs and originally operated out of Beijing under the startup Butterfly Effect. Instagram / @manusaiofficial

Manus was generating more than $125 million in annualized revenue and was valued at $500 million in its last funding round. Instagram / @manusaiofficial

“There will be no continuing Chinese ownership interests in Manus AI following the transaction, and Manus AI will discontinue its services and operations in China.”

The scrutiny comes as Meta has been pouring tens of billions of dollars into AI infrastructure and talent, making the Manus deal both a strategic bet on autonomous AI agents and a potential political test case for how far US tech giants can go when foreign roots collide with national security sensitivities.

Meta has said Manus will continue operating its subscription service as a standalone product after the acquisition, even as its engineers are folded into Meta’s broader AI teams to accelerate work on autonomous agents across Facebook, Instagram, WhatsApp and the company’s Meta AI assistant.

Who thinks it is a good idea for American investors to subsidize our biggest adversary in AI, only to have the CCP use that technology to challenge us economically and militarily? Not me.

Benchmark joins $75m funding round in China’s Manus AI – report https://t.co/5iwh8wKDvx…

— Senator John Cornyn (@JohnCornyn) May 7, 2025

The deal was struck in roughly 10 days, people familiar with the matter told Bloomberg News, as Meta raced to lock up a fast-growing AI agent business that executives believe can immediately bolster both its product roadmap and revenue base.

The Manus acquisition is just one piece of a far broader blitz in the AI space.

The company is forecasting $70 billion to $72 billion in capital spending in 2025 alone, with internal expectations that outlays will top $100 billion in 2026.

Zuckerberg has pledged more than $600 billion in US investment by 2028.

In recent months, Meta has dangled compensation packages worth up to $300 million over four years — and in some cases as much as $1.5 billion over six years — to pry elite AI talent away from OpenAI, Google and Apple in an escalating Silicon Valley arms race.

The Post has sought comment from Manus.

The post Meta snaps up AI startup Manus for $2B, drawing scrutiny over new acquisition’s Chinese roots appeared first on Our Story Insight.

The deal is a major step toward resolving years of uncertainty about the short video app’s future in the US since August 2020, when then President Trump first tried unsuccessfully to ban the app that is now used regularly by more than 170 million Americans.

The details of the deal are in line with one unveiled in September, when Trump delayed until Jan. 20 enforcement of the law that bans the app unless its Chinese owners sell it amid efforts to extract TikTok’s US assets from the global platform. He also declared that the deal met the terms of the divestiture requirements.

The deal is a major step toward resolving years of uncertainty about the short video app’s future in the USs since August 2020. Getty Images

The company told employees on Thursday that ByteDance and TikTok signed binding agreements with three managing investors: Oracle, Silver Lake and MGX, to form a new TikTok US joint venture named TikTok USDS Joint Venture LLC.

Oracle declined to comment. The White House referred questions to TikTok. TikTok said in the memo that the deal will enable “over 170 million Americans to continue discovering a world of endless possibilities as part of a vital global community. “

The deal, set to close on Jan. 22, would end years of efforts to force ByteDance to divest its US business over national security concerns.

Oracle, Silver Lake and Abu Dhabi-based MGX will collectively own 45% of the new entity, according to the memo, which confirms what Reuters and other outlets reported in September.

TikTok CEO Shou Zi Chew said the company signed binding agreements with three major investors to sell just over 80% of the company’s US assets to avoid a US government ban. Getty Images

Trump, in September, shows a signed executive order on a deal that would divest TikTok’s US operations from ByteDance. REUTERS

The US joint venture will be 50% held by a consortium of new investors, including Oracle, Silver Lake and MGX with 15% each; 30.1% held by affiliates of certain existing investors of ByteDance; and 19.9% will be retained by ByteDance, the memo said.

ByteDance did not immediately respond to a request for comment.

The post TikTok’s Chinese owner ByteDance inks deal to sell US operations to American investors, including Oracle appeared first on Our Story Insight.

Nicknamed GhostRedirector by cybersecurity software company ESET, the bad actor is believed to have compromised at least 65 Windows servers located mainly in Brazil, Thailand, and Vietnam. The researchers claim that the group is using two custom-made tools: a passive C++ backdoor that they’ve dubbed Rungan, and a malicious Internet Information Services (IIS) module that they’ve named Gamshen.

Rungan can execute commands on a compromised server, while Gamshen can carry out SEO fraud to manipulate search engine results. This can boost the page ranking of a website, which is being used by the crime group to increase traffic to gambling websites.

Although it can only modify responses from Googlebot, so will not affect regular website visitors, the use of such a tool can damage host websites’ reputations in the long term.

The researchers have found a series of other custom tools in use by GhostRedirector, as well as some familiar names in the world of cybercrime, like EfsPotato and BadPotato. These are thought to be used as back-ups if Rungan should fail, or to attack servers with higher security privileges.

“We believe with medium confidence that a China-aligned threat actor was behind these attacks,” reads the statement from ESET.

How to protect against cybercrime tools

To protect against such tools, ESET recommends ensuring that organizations are using dedicated accounts, strong passwords, and multifactor authentication wherever possible. Those steps are especially important for IIS server administrators.

This is because GhostRedirector and other cybercriminals can only deploy custom IIS tools on already-compromised servers. Blocking them from accessing them in the first place protects against custom malware like Rungan and, by extension, Gamshen.

ESET also advises that admins should ensure that native IIS modules can be installed only from trusted sources and are signed by a trusted provider, ideally requiring two parties for successful installation.

Featured image: Unsplash

The post Pro Chinese cybercrime group manipulates SEO to boost gambling websites appeared first on Our Story Insight.

“I want to be absolutely clear: Over 40+ years in the industry, I’ve built relationships around the world and across our diverse ecosystem – and I have always operated within the highest legal and ethical standards,” Tan wrote in the letter to Intel staffers on Thursday. 

He went on to say that the company — which last year was awarded $8.5 billion under the Biden administration’s CHIPS Act — is working with the Trump administration to address the issues being raised.

Intel CEO Lip-Bu Tan sent a letter to all staffers on Thursday reacting to “misinformation” in the news. REUTERS

Tan has come under fire from both Trump and Sen. Tom Cotton, the chair of the Senate Intelligence Committee, over the Intel chief’s past investments in Chinese companies with ties to the Beijing and the military.

In a post on his Truth Social platform Thursday morning, Trump wrote that Tan is “highly CONFLICTED and must resign, immediately.”

That missive came a day after Cotton (R-Ark.) sent a letter to Intel Chairman Frank Yeary demanding answers about Tan’s financial dealings because he is concerned “about the security and integrity of Intel’s operations and its potential impact on US national security.”

A Reuters report earlier this year claimed Tan invested at least $200 million across hundreds of Chinese firms – some with links to the military – between March 2012 and December 2024. 

Cotton also raised concerns over Tan’s tenure as CEO at Cadence Design, which last week agreed to pay more than $140 million to settle charges that it sold chips to a Chinese military institution, according to Reuters.

In Tan’s memo Thursday, he said that Intel’s board is “fully supportive.”

However, the beleaguered boss has been emroiled a power struggle with Intel’s board since taking over as CEO in March, sources familiar with the matter told the Wall Street Journal.

President Trump speaks at an event in the White House on Thursday. AP

The crux of the tensions revolves around whether Intel should continue to manufacture its own chips or exit the business entirely to cut down on costs, according to the report.

While Tan has pushed to keep Intel’s own production in place, some board members, led by Yeary, are trying to spin off or sell the money-losing unit, sources said.

Yeary has even held talks with Nvidia and Amazon about buying pieces of the business, and explored a potential sale to chipmaker TSMC, according to the Journal.

Tan, who was born in Malaysia and grew up in Singapore, replaced ousted CEO Pat Gelsinger following dismal earnings and several rounds of layoffs.

The post Intel CEO Lip-Bu Tan calls out ‘misinformation’ after Trump demands he step down on reported ties to Chinese military appeared first on Our Story Insight.