Gate News message, April 4, the Qinzhou District People’s Court in Tianshui, Gansu, recently tried a criminal money-laundering case involving virtual currency. The defendant, through a part-time job called “high-pay errand runner,” knowing the money was proceeds from fraud, within 7 days repeatedly withdrew cash in blind spots of surveillance totaling more than 390k yuan, and converted the funds into virtual currency to transfer them to the person at the top of the operation, earning a profit of 21.5k yuan. The court found that he committed the crime of concealing and disguising criminal proceeds, and, according to law, sentenced him to fixed-term imprisonment of two years and four months, imposed a fine of 10k yuan, and ordered him to return the illegal proceeds.
The judge pointed out that offline cash withdrawals have become a key step in “laundering” proceeds from telecom fraud, and things like “errand runner cash withdrawals” and “high-pay daily settlement” are often part of the fraud chain. The public should stay alert to activities such as collecting cash on someone’s behalf, making transfers, and assisting in the transfer of funds, so as to avoid becoming an accomplice to crime.
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