According to CoinDesk news on April 28, reported by Web3 Radar public account #内容挖矿 $BTC
Basic Case Facts
Xiao Yang contacted people buying and selling USDT (hereinafter referred to as U currency) through WeChat, selling at prices marked up by 1 to 6 cents compared to the exchange rate in the 'some easy' exchange, and forwarded the total price, payment account, and recipient name information from the seller of U currency to the buyers. After the buyers made payments according to the provided information, they sent payment screenshots and the wallet address for receiving U currency to Xiao Yang, who then forwarded the screenshots to the sellers. The sellers transferred U currency into Xiao Yang's TP wallet, with a total of 30,396,278.76 U currency transactions in the two wallets he used.
After Xiao Yang withheld an equivalent profit in U currency, he forwarded the remaining U currency to the wallet address provided by the buyers. Within three months, Xiao Yang conducted nearly 10,000 U currency transactions with multiple individuals, involving nearly 10,000 payment accounts, with a total transaction volume of 120 million yuan. Xiao Yang illegally profited over 440,000 yuan, and the illegal proceeds have been returned to the investigation agency after the incident.
Additionally, the virtual currency funds account handled by Xiao Yang was used in 7 telecom network fraud cases to deceive victims' trust, transfer money back to the victims, or directly or indirectly receive accounts of fraudulent proceeds. Among them, Xiao Yang accepted over 59,000 yuan in fraudulent funds; transferred inducement funds of 116,000 yuan, resulting in victims losing over 4.189 million yuan. In summary, Xiao Yang concealed and disguised criminal proceeds amounting to over 170,000 yuan.
Court Judgment
The court held that Xiao Yang, under the instruction of others, knowingly transferred payments of illegal criminal proceeds, constituting the crime of concealing and disguising criminal proceeds, with serious circumstances. Xiao Yang played a minor role in the joint crime and is considered an accomplice, thus should receive a reduced punishment. Given Xiao Yang's voluntary confession and remorse, proactive return of illegal proceeds after the incident, and truthful account of criminal facts upon arrival, a lighter punishment may be warranted. Based on the facts of the crime, its nature, circumstances, and the degree of harm to society, the Sunwu Court lawfully sentenced Xiao Yang for the crime of concealing and disguising criminal proceeds, imposing an appropriate penalty and a fine, while confiscating all illegal proceeds.
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