The Jilin Court in China ruled on a case involving Money Laundering using Virtual Money, with the amount in question exceeding 780,000 yuan.

On September 21, according to the "People's Court Daily", the People's Court of Longjing City, Jilin Province, China, recently tried a case involving the crime of concealing and hiding criminal proceeds. Four defendants purchased gold for upstream telecom network fraudsters, sold it for cash, and transferred virtual money through illegal Virtual Money platforms to help launder the illicit funds. It is reported that the total transaction amount by the defendants reached over 789,000 yuan, of which the verified fraud-related funds amounted to over 452,000 yuan. Ultimately, the court sentenced the defendants to fixed-term imprisonment ranging from two years to one year, and imposed fines ranging from 10,000 to 20,000 yuan.

View Original
This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.
  • Reward
  • Comment
  • Repost
  • Share
Comment
0/400
No comments
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
English
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)