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An employee of a Short Video platform defrauded the company of 140 million yuan in bonuses and used virtual currency to launder money

On July 27, according to the People's Daily, the People's Procuratorate of Haidian District, Beijing City issued the "White Paper on Anti-Commercial Corruption Prosecutorial 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 internally and externally with external suppliers to defraud the company of 140 million yuan in reward money through false application materials. In order to cover up the source of funds, Feng instructed his accomplices to use eight overseas virtual currency trading platforms to convert stolen money into virtual currencies such as Bitcoin in batches, and used "mixed currency" technology to confuse transaction paths to achieve money laundering. Through electronic data review, prosecutors built a "three-in-one" evidence system and successfully recovered more than 90 bitcoins. In the end, Feng and other seven people were sentenced to fixed-term imprisonment ranging from three years to 14 years and six months for the crime of embezzlement.

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