Tianshui Court hears cases involving the laundering of illicit virtual currency funds: the defendant "runner for cash withdrawal" sentenced to two years and four months in prison

Mars Finance news: The Tianshui Qinzhou District People’s Court in Gansu recently tried a criminal case involving helping others cash out packages related to virtual currency. The defendant, while knowing that the funds were proceeds from fraud, used a “high-paying errands” part-time job to cash out multiple times within 7 days in areas blind to surveillance, totaling more than 390k yuan, and then exchanged the funds into virtual currency to transfer them to the superior, earning a profit of 21.5k yuan in the process. The court found that the defendant committed the crime of concealing or disguising proceeds of crime, and according to law sentenced him to two years and four months in prison, fined him 10k yuan, and ordered him to return the unlawful proceeds. The judge pointed out that offline cash withdrawals have become a key step in “laundering” proceeds from telecom fraud; “errand running for cash withdrawal” and “high pay paid daily” are often just one link in the fraud chain. The public should be wary of activities such as collecting cash, making transfers, and assisting in the transfer of funds, to avoid becoming an accomplice to crime.