PANews reported on August 26 that according to "Financial Story Collection", Feng Dian, the former general manager of the operation center of Kuaishou's e-commerce service provider, took advantage of his position to collude with suppliers to embezzle company subsidies. The amount involved was as high as 140 million yuan, setting a new record for corruption in large companies. Feng Dian's gang fraudulently obtained subsidies through false applications and used offshore virtual currency trading platforms to launder the funds and transfer them back into RMB. Ultimately, Feng Dian and seven others were sentenced for embezzlement and ordered to surrender over 90 bitcoins.PANews reported on August 26 that according to "Financial Story Collection", Feng Dian, the former general manager of the operation center of Kuaishou's e-commerce service provider, took advantage of his position to collude with suppliers to embezzle company subsidies. The amount involved was as high as 140 million yuan, setting a new record for corruption in large companies. Feng Dian's gang fraudulently obtained subsidies through false applications and used offshore virtual currency trading platforms to launder the funds and transfer them back into RMB. Ultimately, Feng Dian and seven others were sentenced for embezzlement and ordered to surrender over 90 bitcoins.
Feng Dian, former head of e-commerce at Kuaishou, was convicted of embezzling 140 million yuan through Bitcoin money laundering and was ordered to hand over over 90 BTC.
PANews reported on August 26 that according to "Financial Story Collection", Feng Dian, the former general manager of the operation center of Kuaishou's e-commerce service provider, took advantage of his position to collude with suppliers to embezzle company subsidies. The amount involved was as high as 140 million yuan, setting a new record for corruption in large companies.
Feng Dian's gang fraudulently obtained subsidies through false applications and used offshore virtual currency trading platforms to launder the funds and transfer them back into RMB. Ultimately, Feng Dian and seven others were sentenced for embezzlement and ordered to surrender over 90 bitcoins.
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