One day, the Beijing police clamped into a private dining room in the Dongcheng District, whereby a venture capital circle chief sat. At this point, the chief and his admirers are sitting around the Texas poker table with lots of chips on hand, and the phone screen filled with money transfers.
The venture capital circle chief is Xu Chaojun, the former head of Renren, serial entrepreneur, as well as a preacher in Texas Poker. Xu Chaojun was arrested on suspicion of gambling charges by the prosecutors of Xicheng District, the amount involved summing up to 3 million, though in actuality, the amount can be much higher than this.
In April, Xu Chaojun recently represented the Chinese Dragon Team in Texas Hold 'em Poker competition, the last highlight before his arrest.
Texas Hold 'em entered the Chinese market around 2010, with the specific route of entry untested. Before the incident regarding the Xu gambling god, the Chinese venture capital circles' deep commitment was constantl...
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