Chinese Prosecutors Seek Confiscation of 61,896 BTC Seized in UK From Massive Fraud: Report
Photo: The Daily Hodl
Chinese prosecutors are seeking to confiscate over 61,000 Bitcoin and related assets seized by UK authorities from a massive international fraud scheme. The Tianjin No.2 Intermediate People's Court accepted the application by the Tianjin Municipal People's Procuratorate No.2 Branch on Sept. 28 to confiscate illegal proceeds including 61,896.41552945 BTC plus other virtual currencies, cash, jewelry, and financial assets. The assets stem from a 2014-2017 Ponzi-style fraud run by the controller of a Tianjin company that raised over RMB 403.78 billion through false investment schemes, causing over RMB 199.77 billion in losses to more than 102,000 victims.
Also reported by TokenPost.
Source: The Daily Hodl
