Details of the 140.00 million yuan bonus corruption case on the short video platform have been revealed, involving virtual currency money laundering and "mixing" to transfer illicit funds.
Feng, a former employee of a short video platform company in Haidian District, Beijing, colluded with external suppliers to illegally obtain 140.00 million yuan in bonuses by exploiting loopholes in incentive policies and leaking internal data. During the transfer of the funds involved, Feng instructed others to use 8 overseas virtual currency trading platforms to convert the funds into virtual assets such as Bitcoin, and concealed the flow of funds through "coin mixing." Ultimately, Feng and 6 others were sentenced to fixed-term imprisonment ranging from three to fourteen years and six months and fined, and the relevant judgments have taken effect. The procuratorate reminds that enterprises should strengthen risk prevention and control in the context of the digital economy. [People's Daily]
Details of the 140.00 million yuan bonus corruption case on the short video platform have been revealed, involving virtual currency money laundering and "mixing" to transfer illicit funds.
Feng, a former employee of a short video platform company in Haidian District, Beijing, colluded with external suppliers to illegally obtain 140.00 million yuan in bonuses by exploiting loopholes in incentive policies and leaking internal data. During the transfer of the funds involved, Feng instructed others to use 8 overseas virtual currency trading platforms to convert the funds into virtual assets such as Bitcoin, and concealed the flow of funds through "coin mixing." Ultimately, Feng and 6 others were sentenced to fixed-term imprisonment ranging from three to fourteen years and six months and fined, and the relevant judgments have taken effect. The procuratorate reminds that enterprises should strengthen risk prevention and control in the context of the digital economy. [People's Daily]
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