TechFlow News: On January 23, according to an announcement on the official WeChat account of the Shenzhen Municipal People’s Procuratorate, the Shenzhen Municipal People’s Procuratorate of Guangdong Province recently reviewed the case in accordance with the law and filed a public prosecution with the Shenzhen Intermediate People’s Court of Guangdong Province against 30 defendants—including Sui Guangyi and Ma Xiaoqiu—who engaged in illegal fundraising activities in Shenzhen and other locations through Shenzhen Dingyifeng Asset Management Co., Ltd., Hong Kong Dingyifeng International Holding Group Co., Ltd., and their affiliated companies. The charges include fraud in raising funds, illegal absorption of public deposits, money laundering, embezzlement by a person holding a position of trust, unlawful border crossing, and providing false certification documents, pursuant to the Criminal Law of the People’s Republic of China, the Criminal Procedure Law of the People’s Republic of China, and other relevant provisions.
Earlier reports indicated that the entities involved allegedly conducted illegal financial activities by issuing fictitious wealth management products and “DDO Digital Options,” among other means.
