2 billion assets wiped out: The end of the escape of Beijing's largest off-site financing boss

At the cost of 2 billion RMB, a truth is bought: dirty money will eventually be taken away.

Song Shijie, the largest off-site financing boss in Beijing, relied on illegal leverage to harvest retail investors, and was ultimately found to owe the treasury 22 million in fines, while also transferring the money overseas.

British investigations found that the funds in his luxury home, apartment, and bank accounts in London originated from illegal domestic securities trading, and were then laundered through complex transfers and shell companies.

Documents from the U.S. are even more direct: he has about 10 million USD in cryptocurrency assets in his Binance account, involved in crypto scams.

As a result, the luxury home and apartment in London were completely confiscated, valued at 161 million RMB, and not a cent was left in the British accounts. Even the 3 accounts on Binance, with approximately 10 million USD in crypto assets, were all frozen.

This situation is too ironic. He may have originally thought that cryptocurrency was the ultimate safe haven, but it turned out to be a mirror reflecting his true self.

For us ordinary investors, this story is not gossip, but a warning:

Many people focus on airdrops and quick wealth in the crypto space, but once they step into the gray area, no wealth can be preserved.

What can truly navigate through cycles is always safety and compliance.

Because the market may forgive speculation once, but regulation will not overlook money laundering.