$BTC
💥 Shaanxi High Court Reveals: A major illegal fundraising case of 6.34 million behind the cryptocurrency trading platform, two main offenders sentenced to four years!
Shaanxi High Court Releases Illegal Fundraising Case Involving Cryptocurrency Trading Platform
1) Core Overview:
The Shaanxi High People's Court in China announced on November 1 a typical case regarding the illegal absorption of public deposits by a cryptocurrency trading platform. The amount involved exceeds 6.34 million yuan, involving defendants Shi and Zhu.
2) Case Details:
Time and Place: In June 2019, Shi and Zhu established an office location for Shaanxi Silk Road Starting Point Network Technology Co., Ltd. in the Wealth Center of Xi'an High-tech Zone.
Platform Construction: The two utilized their self-developed BRTR platform to issue and trade digital currencies such as USDT, QC, and BRTR.
Promotion Methods: They held promotional meetings in Xi'an, Chengdu, Yichang, and Linyi under the name of Zhongtou Shanquan Investment Fund Management Co., Ltd., exaggerating the company's strength, fabricating cryptocurrency investment projects, and promising principal protection, high interest rates, and luxury car usage rights to attract public investment.
3) Fundraising Situation:
Number of Participants and Amount: By the time of the incident, a total of 114 fundraising participants reported, with the total amount raised reaching over 6.34 million yuan. Fund Return: The amount returned to the fundraising participants was over 5.16 million yuan.
4) Court Judgment:
The court found that Shi and Zhu violated national financial management laws, indirectly absorbing public funds and severely disrupting financial order.
Both were sentenced to four years in prison for the crime of illegally absorbing public deposits, and fined.
