Wu said: Shenzhen University alumnus Zhang Yufeng was suspected of fraud after defrauding donations of 50 million yuan, and many people were deceived

 it was revealed in an interview with Huang Yifeng, former dean of Shenzhen University, that Zhang Yufeng, who was previously reported by multiple media outlets to have donated 50 million yuan to Shenzhen University just one year after graduation, actually falsified his resume and did not make any donations. In fact, he did not even graduate normally, owed online loans, and even fabricated his identity as an FTX employee. In addition, after gaining the trust of alumni through fraudulent donations, Zhang Yufeng has recently been asking for money from acquaintances under the guise of investment schemes, but has failed to return the money on time, leading to multiple victims reporting him to the police.

Huang Yifeng stated that Zhang Yufeng claimed to have some cryptocurrency investment schemes that could double in value within a few months. However, after his friends' investments matured, Zhang Yufeng began to default and came up with many absurd excuses, such as being hospitalized in Hong Kong. After multiple victims reported him to the police, Zhang Yufeng's parents, who run a printing factory in Dongguan, helped him repay some of the debts. Zhang Yufeng's rental apartment in Shenzhen Bay One was also warned due to rent arrears. He even defaulted on a 6,000 yuan online loan.