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

Odaily News: The Qinzhou District People's Court in Tianshui, Gansu Province, recently heard a criminal case involving assisting others in withdrawing cash packages related to virtual currency. The defendant, through a "high-paying courier" side job, knowingly withdrew over 390,000 yuan in total over seven days in surveillance blind spots, despite being aware that the funds were proceeds from fraud. The defendant then exchanged the funds into virtual currency and transferred them to an upstream contact, profiting 21,500 yuan from the scheme. The court found the defendant guilty of the crime of concealing and disguising the proceeds of crime, sentencing them to two years and four months in prison, imposing a fine of 10,000 yuan, and ordering the confiscation of the illegal gains.

The judge reminded that offline cash withdrawals have become a key link in "laundering" proceeds from telecom fraud. Activities such as "courier cash withdrawal" 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)