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A Beijing court sentenced Feng, a former tech executive, to 14½ years for orchestrating a ¥140M (~US $19–20 million) embezzlement and #Bitcoin# laundering scheme.
Using shell firms and falsified bonus payouts at a short video platform, he converted proceeds into over 90 #BTC# via eight offshore exchanges and coin‑mixing services to obscure trails.
Authorities also jailed seven accomplices, with sentences ranging from 3 to 14 years. Full restitution remains pending.
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