Fujian Putian Court ruled illegal foreign exchange transaction case, with the amount involved exceeding 13.3 billion yuan

According to Putian.com, in the first half of 2025, the Hanjiang District People's Court of Putian City, Fujian Province ruled a virtual currency-related criminal case prosecuted by the court. The defendants Yan Moumou, Zheng Moumou, Lin Moumou and others used USDT 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 involved exceeded 13.3 billion yuan, and the amount of illegal foreign exchange transactions reached 25.62 million yuan. The gang withdrew more than 478 million yuan in cash from banks in many places, purchased "U coins" and transferred it to upstream crime wallets, laundering cross-border crime funds and earning the difference from it. In response to the criminal suspect Lin Moumou denied the criminal facts after being arrested, the procuratorate extracted three key voices from the accomplice's mobile phone, and commissioned the judicial appraisal institute to compare the voiceprints, confirming that they were consistent with Lin Moumou's voice samples, and successfully established the evidence link between the account involved in the case and Lin Moumou. Lin pleaded guilty and accepted punishment in court. In response to the qualitative dispute, the court organized the public security and procuratorate to reach a consensus on multiple meetings, and eventually sentenced 15 people including Yan Moumou, Zheng Moumou, Lin Moumou and others to 8 months to three years for the crime of illegal business operations and the crime of helping with information network criminal activities, and sentenced to 15 people including Yan Moumou, Zheng Moumou, Lin Moumou and others to fixed-term imprisonment ranging from 8 months to 3 years, and were fined.