An employee of a certain short video platform fraudulently obtained a company bonus of 140 million yuan and used virtual currency for money laundering

On July 27th, according to People's Daily, the People's Procuratorate of Haidian District, Beijing, released the "White Paper on Anti Commercial Corruption Prosecution Work (2020-2024)", revealing a commercial corruption case involving 140 million yuan. In the case, Feng, an employee of a short video platform company, colluded with external suppliers both internally and externally to obtain a reward of 140 million yuan from the company through false application materials. In order to conceal the source of funds, Feng instructed his accomplices to use eight overseas virtual currency trading platforms to exchange the stolen funds into virtual currencies such as Bitcoin in batches, and used "mixed currency" technology to confuse transaction paths for money laundering. The prosecution has successfully recovered over 90 bitcoins through electronic data review and the construction of a "three in one" evidence system. Ultimately, Feng and seven others were sentenced to imprisonment ranging from three years to fourteen years and six months for the crime of embezzlement.