Taizhou cracked a "high interest financial management" fraud case that transferred stolen money using "U coins" as the medium, with the amount involved reaching more than 6 million yuan

PANews reported on September 14 that Taizhou Internet Police official account announced a "high interest financial management" scam. The victim Jin from Taizhou met "netizens" through the Internet, and was lured into a false investment platform by the other party using "high-interest financial management that is stable and profitable" as bait. The successful initial small recharge and withdrawals made Jin firmly believe that the platform is reliable and has considerable returns. After that, the fraudsters lied that the platform was "closed by the RMB channel" and asked Jin to use cash to exchange it for virtual currency "U coins" before continuing to "invest" or withdraw book "profits". Under the manipulation of serial tactics such as "limited-time recharge profits are higher" and "a huge deposit is required to withdraw cash", Jin continued to invest large amounts of cash and even borrowed money from his friends to continue investing, and was eventually defrauded of more than 6 million yuan. The police found an efficient money laundering "U coin assembly line" running at high speed behind the scenes. The fraud gang "goes online" and remotely commands several "takers" to Huangyan, Taizhou, Zhejiang Province, and directly collects hundreds of thousands of yuan and millions of yuan in cash from Jin in batches and multiple times. In June 2025, the People's Procuratorate of Huangyan District, Taizhou City filed a public prosecution against the defendant Li for concealing and concealing the proceeds of the crime. The district court sentenced Li to three years and six months in prison and a fine of RMB 80,000.