According to BlockBeats news on December 20, as reported by the Workers' Daily, the Beijing People's Procuratorate released the working situation of the 'Procuratorial Protection of Enterprises' special action and published typical cases. In an embezzlement case, the defendant defrauded the company of over 140 million yuan, and the procuratorial authorities tracked the recovery of losses through virtual currency.
Between 2020 and 2021, Feng took advantage of his position in a certain technology company's service provider and regional operations growth department, colluding with Tang and Yang to defraud the company of service provider bonuses totaling over 140 million yuan. Subsequently, Feng directed Tang and Yang to use 8 overseas virtual currency trading platforms to convert the involved funds from RMB to virtual currency, obscuring the source and nature of the funds through overseas 'mixing' platforms, transferring the funds in virtual currency in multiple layers, with part of the involved funds flowing into accounts controlled by Feng and others in RMB form, while some involved funds were hidden by Feng and others in virtual currency form.
The procuratorial authorities targeted the situation where the defendant distributed profits using virtual currency and obscured the flow of funds through overseas 'mixing' platforms, conducting a line-by-line comparison and bilateral review of virtual currency and legal currency, accurately identifying the flow of funds, and ultimately prompting Feng to return 92 bitcoins, recovering over 89 million yuan in illicit gains and maximizing the economic losses of the victimized units.
On September 14, 2024, the Beijing First Intermediate People's Court issued a judgment, sentencing the defendant Feng and 6 others for embezzlement, with prison terms ranging from 14 years and 6 months to 3 years, along with corresponding fines. The judgment has taken effect.
