Telecommunications Fraud Case Uncovered in Hunan Province
In a significant telecommunications fraud case unveiled in Hunan Province, China, authorities have exposed a criminal enterprise operating under the guise of a legitimate digital currency platform. The perpetrators, led by a man named Liu, set up a fraudulent operation in the Yuelu District of Changsha, falsely portraying themselves as “Asian beauties” to lure victims.
Exploitation of the Hconex Digital Currency Platform
They exploited the Hconex digital currency platform to enact their scheme, manipulating backend systems to create the illusion that victims’ investments in virtual currency had vanished completely. This deceitful operation resulted in financial losses exceeding 1 million RMB.
Sentencing and Legal Consequences
Following judicial proceedings in the People’s Court of Shuangfeng County and the Intermediate People’s Court of Loudi City, Liu received a hefty sentence of 11 years and 6 months in prison along with a fine of 300,000 RMB. His accomplice, Kang, was handed 11 years and 2 months behind bars and similarly fined 300,000 RMB, while Zeng faced 7 years and 6 months in prison and a 90,000 RMB fine.
Additionally, the court ruled that the trio’s illicit profits would be reclaimed according to legal protocols.
