Shenzhen Prosecutor Files Criminal Charges Against 30 Suspected Asset Fraud

Law enforcement agencies in Shenzhen have filed formal charges against 30 individuals, including Sui Guangyi and Ma Xiaoqiu, in one complex financial fraud case. According to a report from NS3.AI, the network of suspects was charged with a series of criminal acts that harmed the wider community through a well-structured and coordinated scheme.

Modus Operandi: Financial Product Fraud and Air Tokens

The defendants allegedly used Ding Yifeng Asset Management and several other affiliated companies as a means to carry out illegal fundraising. They offer financial products that are actually fake to potential victims, accompanied by unrealistic promises of profits. In addition, the suspects were also involved in the promotion and distribution of an aerial token called “DDO Digital Options” — a digital asset that has absolutely no fundamental value and is designed solely to defraud investors.

This fraudulent tactic is combined with the covert absorption of public deposits, where funds from victims are collected for investment reasons but are actually used for personal gain or transferred to third parties without explicit consent.

Law Enforcement and Asset Confiscation

In an effort to shut down this fraudulent network, Shenzhen authorities have taken a series of concrete actions. A number of valuable assets including property, vehicles, and equity holdings have been seized from the suspects. In addition, various bank accounts linked to illegal activities have also been frozen to prevent further transfer of funds.

The case demonstrates Shenzhen’s commitment to fighting financial crime and protecting the public from increasingly sophisticated fraudulent investment schemes.