A criminal gang used a fake digital currency platform as a guise to commit fraud, with the principal offender sentenced to 11 years and 6 months

On May 8, the Intermediate People's Court of Loudi City, Hunan Province, released typical cases of telecommunication network fraud and its related crimes. Liu and two others established a fraud studio in the Yuelu District of Changsha, packaging themselves as "Asian beauties" and using the Hconex digital currency platform as a guise to commit fraud. The criminal gang manipulated backend data, causing all virtual currency investments by victims to incur "losses," defrauding a total of over 1 million yuan.

The People's Court of Shuangfeng County, Hunan Province, sentenced the principal offender Liu to 11 years and 6 months in prison, with a fine of 300,000 yuan; Kang was sentenced to 11 years and 2 months, with a fine of 300,000 yuan; Zeng was sentenced to 7 years and 6 months, with a fine of 90,000 yuan. The illegal gains of the three individuals will be recovered according to the law. #诈骗团伙