BlockBeats News, August 26th. At the end of July this year, according to People's Daily, Feng Dian, former general manager of the operation center of Kuaishou's e-commerce service provider, illegally embezzled 140 million yuan of reward money that should have been given to service providers and operators. He then used an overseas virtual currency exchange platform to convert the stolen money into Bitcoin and other cryptocurrencies for money laundering. The court ruling shows that Feng Dian and 7 others were sentenced to three to fourteen and a half years in prison for the crime of embezzlement, with corresponding fines, and surrendered more than 90 hidden Bitcoins. The amount involved in this case set a corruption record among Internet giants.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.