An employee of a short video platform defrauded the company of 140 million yuan in bonuses and used virtual currency to launder money
On July 27th, according to People's Daily, the Haidian District People's Procuratorate of Beijing released the "White Paper on Anti-Commercial Corruption Prosecution Work (2020-2024)", revealing a commercial corruption case involving 140 million yuan.
In the case, an employee of a short video platform company, Feng, colluded with external suppliers to fraudulently obtain company rewards totaling 140 million yuan through false application materials. To conceal the source of the funds, Feng instructed accomplices to use 8 overseas virtual currency trading platforms to exchange the stolen money in batches for bitcoins and other virtual currencies, and used "coin mixing" technology to confuse the trading path to launder the money.
Through electronic data review, the prosecution built a "triple flow integration" evidence system and successfully recovered more than 90 bitcoins. In the end, Feng and 7 others were sentenced to three to fourteen years and six months in prison for embezzlement.
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