China made a move on 61,800 seized Bitcoin – But a UK court got there first
Photo: AMBCrypto
With scams rising almost daily, Chinese prosecutors have made efforts to recover assets linked to one of its largest alleged investment frauds. The latter centers on the very famous Qian Zhimin case, which involves more than 40.378 billion yuan ($5.7 billion) and over 102,000 investors. For those unaware, between 2014 and 2017, Qian allegedly raised money by selling unlicensed wealth-management products that promised guaranteed returns. Here, the prosecutors' claim that much of the money was used to repay earlier investors, fund fictitious projects, purchase Bitcoin [BTC], and acquire luxury assets.
Source: AMBCrypto
