Tianshui Court Hears Case Involving Laundering of Virtual Currency Proceeds: Defendant Sentenced to Two Years and Four Months for "Courier Cash Withdrawals"

Odaily According to the Qinzhou District People's Court of Tianshui, Gansu Province, a recent criminal case involving assisting others in withdrawing cash packages related to virtual currency was heard. The defendant, through a "high-paying courier" side job, knowingly withdrew over 390,000 yuan in total over 7 days in surveillance blind spots, despite being aware the funds were proceeds of fraud. The defendant then converted the funds into virtual currency and transferred them to an upstream contact, profiting 21,500 yuan from the activity. The court found the defendant guilty of the crime of concealing and disguising criminal proceeds and sentenced them to two years and four months of fixed-term imprisonment, along with a fine of 10,000 yuan. The defendant was also ordered to surrender the illegal gains.

The judge warned that offline cash withdrawals have become a key link in "laundering" proceeds from telecom fraud. Activities such as "courier cash withdrawals" and "high daily pay" are often part of the fraud chain. The public should be vigilant against actions like receiving cash on behalf of others, transferring funds, or assisting in fund transfers to avoid becoming accomplices to crime. (Qinzhou District People's Court of Tianshui Public Account)