Tianshui Court Tries a Case Involving Laundering Fraud Proceeds Using Virtual Currency: The Defendant Who “Ran Errands to Withdraw Cash” Was Sentenced to 2 Years and 4 Months

The Qinzhou District Court of Tianshui, Gansu Province, tried a criminal case related to virtual currency. Knowing that the funds were proceeds from fraud, the defendant withdrew more than 390,000 yuan through “high-paying errand runs” and made a profit of 21,500 yuan. He was ultimately sentenced to 2 years and 4 months in prison and fined.

The judge reminded the public to remain vigilant against cash withdrawal and fund-transfer activities related to telecom fraud.

Recently, the Qinzhou District People’s Court in Tianshui, Gansu Province, heard a criminal case involving “helping others withdraw cash” related to virtual currency. The defendant, while working part-time as a “high-paying errand runner,” repeatedly withdrew a total of more than 390,000 yuan within 7 days in surveillance blind spots, despite knowing that the funds were proceeds from fraud, and then exchanged the money for virtual currency, transferring it to an online contact, from which he profited 21,500 yuan.

The court found that he committed the crime of concealing and disguising criminal proceeds and, according to law, sentenced him to fixed-term imprisonment of 2 years and 4 months, imposed a fine of 10,000 yuan, and ordered him to return illegal gains. The judge pointed out that offline cash withdrawals have become a key link in “laundering” proceeds from telecom fraud. “Errand runs for cash withdrawals” and “high-paying daily settlements” are often part of the fraud chain. The public should be on guard against actions such as collecting cash, transferring funds, and assisting in fund transfers, so as to avoid becoming accomplices in crime.