06/12/2020
Karolina Salinger
The Chinese court recognizedformer bank employee guilty ofembezzlement of 1.85 million yuan (about $ 261 thousand) by the bank and fraud with customer funds for 770 thousand yuan ($ 110 thousand). He invested the stolen funds in bitcoin, 8btc reports.
Between 2018 and May 2019, the fraudster used the bank's money for cryptocurrency investments and personal needs. Later he began to write out loans in the name of the organization's clients.
According to the defendant, he began to invest inbitcoin after the rally in 2017, when the price reached $ 20 thousand. He invested 100,000 yuan, making a profit of 1.6 million yuan in just a week. After this success, the fraudster decided to take advantage of the bank funds, taking advantage of his official position.
However, in 2018, the price of Bitcoin began to fall, falling to $3,200. As a result, «investor» Lost 2 million yuan on investments in Bitcoin.
The fraudster was sentenced to 12 years in prison and a fine of 100,000 yuan. He must also return any stolen funds.
Earlier, Malaysian law enforcement officers arrested cybercriminals from China accused of fraud using cryptocurrency.
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