The Pengshan District Court of Meishan City tried and sentenced a case of fraud committed through a self-made fake virtual currency trading platform. Seven defendants including Hu and Yang were sentenced to fixed-term imprisonment ranging from twelve years and six months to two years and ten months, suspended for three years, and fined for the crimes of fraud and concealing and concealing the proceeds of crime.
Illegal operation of a fake virtual platform, involving a total amount of more than 9.4 million yuan
From March to December 2020, Hu, Yang and others used the registered Chengdu Jiarongteng Software Information Technology Co., Ltd. (hereinafter referred to as Jiarongteng Company) to illegally operate the fake virtual currency investment platform "Shanda Contract". They lured customers to buy Tether with the promise of "capital protection and capital preservation in case of liquidation" and then exchanged them for the platform's proprietary fake virtual currency PTC. They then used PTC to purchase Bitcoin and other virtual currencies on the platform to realize profits and losses.
The criminals controlled the background data to manipulate the trend of the virtual currency K-line and the transaction results, and lied that hackers had stolen the currency to cover up the funding gap, defrauding customers of 1,443,981 Tethers, equivalent to more than 9.4 million yuan. Among the victims were the defendant's classmates, friends, and even many employees of Jiarongteng.
The victim, Zhang Moumou, applied for a job at Jiarongteng in April 2020 and worked there until the case occurred in December of that year. When he joined the company, Yang Mouxian lied to him that the company was headquartered in Singapore, invested by a Singapore foundation, regulated by the Singapore MAS Financial Authority, and had an MSB license from the US Blockchain Financial Regulatory Authority, and that the virtual currency PTC operated on the platform was internationally accepted.
The company encouraged and supported employees to open their own accounts to participate in the so-called "investment", and often posted fake transaction profit screenshots on the employee forums, claiming that employees' annual salary was not as much as others' earnings from one position. As a result, Zhang had the idea of opening an account on the platform to invest.
On December 15, 2020, the platform account was automatically liquidated and all accounts were cleared. The platform issued an announcement explaining that due to the hacker attack, all the funds in it were lost. Hu explained that the platform would take some remedial measures and then compensate all losses to investors. Yang Mouxian emphasized that if the police came to investigate, he would conceal the fact that employees were promoting the platform. Afterwards, Yang Mouxian blacklisted all the employees who participated in the investment. From the end of April to December 2020, Zhang Moumou invested a total of more than 800,000 yuan in principal in the platform, received a rebate of more than 110,000 yuan, and was defrauded of more than 600,000 yuan in total.
The invitation from a classmate to get rich turned out to be a scam, he disappeared and blocked V
The victim Yan and Yang were college classmates. At the end of March 2020, Yang introduced to Yan that their company was an agent for a virtual currency investment app called "Shanda Contract" with a principal protection agreement. Yan thought that he and Yang were classmates and would not be deceived, so he invested several times.
On December 18, 2020, Shanda Contract APP issued an announcement requiring all customers to recharge before they had a chance to recover the balance of funds lost in the previous hacker attack. Yan repeatedly asked Yang to return the money, but was blocked by Yang. In January 2021, Yan and other investors reported to the police in Chengdu. It is reported that from the end of March to December 2020, Yan invested more than 410,000 yuan in Shanda Contract, received a rebate of more than 160,000 yuan, and was defrauded of more than 240,000 yuan in total.
The circle of friends has become a trap, financial management should choose formal channels
In May 2020, the victim Hu saw his friend Lin promoting an investment and financial management APP in WeChat Moments, which advertised "capital preservation and compensation for margin calls". In June 2020, Hu registered an account with his mobile phone, ID card and bank card with the idea of giving it a try, and invested more than RMB 36,000. Later, Lin pulled him into the Shanda Contract VIP group, which had more than 300 people. Every day, someone posted their investment amount and income. Yang also often posted screenshots showing how much new members had deposited, and also showed off the Porsche sports car she bought.
On June 26, 2020, Hu and Lin went to Jiarongteng Company. Yang received them and said that Shanda Contract was headquartered in Singapore and had a US MSB license. It planned to develop into a global exchange like HuoB within five years, and encouraged Hu to continue to increase his investment. From June 17 to November 19, 2020, Hu invested more than 500,000 yuan in Shanda Contract and received a rebate of more than 60,000 yuan, and was defrauded of more than 440,000 yuan in total.
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