Chongqing Tongliang concluded a virtual currency money laundering case involving a total amount of 2.25 billion yuan

According to a post on the Chongqing Tongliang Court’s WeChat public account, on October 24, the Tongliang Court concluded a case of helping criminals transfer funds overseas. The amount involved was as high as 2.25 billion yuan, and 21 people were sentenced. From November 2020 to late April 2021, criminals used offline Bitpie collection wallets and other methods to collect Tether (virtual currency) converted from the proceeds of crimes such as online fraud and online gambling by upstream criminals, and then in the virtual currency Currency online trading platform for sale. By fabricating pretexts such as withdrawing project funds and migrant workers' wages, they organized gang members to withdraw cash from bank counters in Chongqing, Sichuan, Shanghai and other provinces and cities. The amount of cash withdrawals ranged from hundreds of thousands to several million yuan each time. After withdrawing the cash, the cash is packaged in trolley cases, backpacks, etc., and transported by plane to Xiamen, Anxi and other places in Fujian Province, and the cash is delivered to the designated recipients. The cash delivered each time amounts to 10 million to tens of millions of yuan. No wait. As of the time of the incident, the criminals had transferred a total of more than 2.25 billion yuan of money for overseas persons in this way, and the cumulative profits had reached more than 22.62 million yuan.