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Jilin High Court Reveals Case of Money Laundering Involving Virtual Currency Gold Cash-Out, Defendants Sentenced for Concealing and Hiding Criminal Proceeds
Summary: According to reports, the Jilin Provincial High People's Court disclosed a recent case heard by the Longjing City People's Court in Jilin Province involving the crime of concealing and hiding criminal proceeds. Four defendants purchased gold from upstream telecommunications fraudsters, cashed out, transferred virtual currency through illegal virtual currency platforms to help launder the proceeds. ...
According to reports, the Jilin Provincial High People's Court disclosed a recent case heard by the Longjing City People's Court in Jilin Province involving the crime of concealing and hiding criminal proceeds. Four defendants purchased gold from upstream telecommunications fraudsters, cashed out, transferred virtual currency through illegal virtual currency platforms to help launder the proceeds. It is reported that the transaction amount of the defendants reached over 789,000 yuan, with confirmed fraudulent funds totaling over 452,000 yuan. The court ultimately sentenced the defendants to imprisonment ranging from two years to one year, and fines ranging from 10,000 to 20,000 yuan.
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Link: Jilin High Court Reveals Case of Money Laundering Involving Virtual Currency Gold Cash-Out, Defendants Sentenced for Concealing and Hiding Criminal Proceeds [Copy]
