Under the guise of blockchain, the Zhejiang “Energy” fund raising fraud case was pronounced, and the main offender was sentenced indefinitely

According to the Beijing News, on December 11, the Hangzhou Intermediate People's Court publicly convicted the case of "Energy" investment platform fund-raising fraud, sentenced the defendant Xia Hongming to life imprisonment for the crime of fund-raising fraud, deprived him of political rights for life, and confiscated all personal property; The defendants were sentenced to Fu Yuezhang, Xuan Liqun, Xia Yifeng, and Xu Jin with a prison term ranging from 13 to 6 years, and fines ranging from RMB 400,000 to RMB 100,000. This case is the largest fund-raising fraud case in Hangzhou under the guise of "blockchain" and using "virtual currency" as a criminal means.