Odaily Planet Daily News At the end of April, the Discipline Inspection and Supervision Commission of Hanzhong City, Shaanxi Province, disclosed a serious illegal case involving a seconded public official misappropriating public funds to speculate in virtual currency. After investigation, it was found that Xiao Fan, a staff member of the Hanzhong Municipal Public Housing Management Office, used his position to illegally collect public rental housing rents totaling 737,503 yuan during the secondment period, and used 674,700 yuan of it to invest in virtual currency. However, due to the sharp fluctuations in the virtual currency market, Xiao Fan's investment suffered huge losses. Xiao Fan was originally responsible for the signing of public rental housing contracts and the inspection of payment receipts, but after discovering loopholes in the unit's financial management and rent management, he had evil thoughts. He illegally collected public rental housing rents and privately misappropriated them for personal expenses and virtual currency investment. In order to fill the funding gap, Xiao Fan even took the initiative to urge the payment of rent and illegally handled public rental housing to make illegal profits. In addition, Xiao Fan also handled public rental housing illegally with Song, the legal representative of a company, and jointly accepted bribes. On March 21, 2023, the case of Xiao Fan for embezzlement of public funds and bribery was heard in public at the Hanzhong City Hantai District People's Court. During the trial, Xiao Fan and others confessed to the charges of the public prosecutor and pleaded guilty and accepted punishment in court. (Upstream News)