Fujian High Court: A major cross-border telecommunications network fraud case involved virtual currency and other assets worth nearly 200 million yuan

The Fujian High Court announced typical cases of combating and managing new types of telecom network crimes. Among them, the Longyan City Trial Bureau tried a major cross-border telecom network fraud case in accordance with the law. The public security organs seized the cash involved in the case and a large number of houses, cars, gold, expensive watches, virtual currencies, etc. worth nearly 200 million yuan; the trial organs have sentenced the case to a total fine of more than 51.67 million yuan, and increased the enforcement of property. The fines, refunds, confiscations and other property judgments have been executed in full for a total of 69.2158 million yuan. For the property obtained by the defendant through fraud, the defendant was ordered to return it to the victim in accordance with the law. In addition, in another telecom network fraud case, from April 2019 to June 22, 2020, the defendant He Mou gathered dozens of people and successively registered "Zhangjing Tianxia Company" and "Fujian Quanzhou Hongbaole Electronic Technology Co., Ltd." in Quanzhou City, engaging in telecom network fraud activities targeting foreigners investing in Bitcoin. The first instance court sentenced each defendant to fixed-term imprisonment ranging from twelve years and six months to one year and six months for the crime of fraud, and imposed fines ranging from one million yuan to eight thousand yuan.