Smartisan Founder Locks Horns With Early Investor Who Wants His Money Back

Colorful tech entrepreneur Luo Yonghao, the founder of defunct phone-maker Smartisan, has been embroiled in a public spat with an early investor in the company, who called on him to compensate those who helped fund it by buying back their shares.

The fracas began when former Smartisan director Zheng Gang accused Luo on social media on Jan. 7 of “deceiving” investors with a compensation agreement that sought to write off their interest in the company in return for a paltry stake in Luo’s new augmented reality (AR) firm.