According to Foresight News , citing the official WeChat account of the Beijing Higher People's Court, the court released five typical cases of punishing telecommunications and online fraud. One case involved a cross-border telecommunications and online fraud scheme involving cryptocurrency investment. The defendant, residing in Chaoyang District, Beijing, used overseas chat software to invite victims to purchase cryptocurrency and invest in designated platforms, thereby defrauding them and transferring the proceeds through the cryptocurrency investment scheme.
An investigation revealed that the gang defrauded victims of over US$900,000 (approximately RMB 5 million). Based on objective evidence such as the company's payroll and performance records, the court accurately determined the amount of fraud and sentenced Liu to twelve years in prison for fraud, along with a fine.
