A gang in Fujian, China used USDT to launder money, and the transaction volume involved exceeded 13.3 billion yuan

According to BlockBeats, on September 5, in the first half of this year, the Hanjiang District People's Court of Fujian, China ruled a virtual currency-related crime case prosecuted by the court. Yan Moumou, Zheng Moumou, Lin Moumou and others used the virtual currency USDT (Tether) to build an underground foreign exchange trading network, solicited customers through overseas chat software, and illegally exchanged RMB and foreign currencies with "U coins" as a medium. The bank account flow in the case exceeded 13.3 billion yuan. After verification, the amount of illegal foreign exchange transactions was 25.62 million yuan. The gang also withdrew more than 478 million yuan in cash from banks in many places in Fujian Province, purchased "U coins" and transferred it to upstream crime wallets, "whitewashing" cross-border crime funds and earning the difference. After the suspect Lin Moumou was arrested, he completely denied the criminal facts. The court guided the public security organs to extract three key voices from the account from the mobile phone of the accomplice, and entrusted the judicial appraisal institute to conduct voiceprint comparison. After identification, the test voice and Lin Moumou's voice samples were described by the same person. Finally, the evidence correlation between the account involved and the defendant Lin Moumou was successfully established, and the evidence basis of the accusation was consolidated. Lin Moumou, who had previously insisted that he was not guilty, pleaded guilty and accepted punishment in court. Faced with qualitative disputes, the court organized the public security and court to conduct multiple consultations to reach consensus. In the end, the court sentenced 15 people including Yan Moumou, Zheng Moumou, Lin Moumou and others to 8 months to 3 years for the crime of illegal business operations and assisting information network criminal activities, and fined them. (Putian.com)