TechFlow reports that the Yangpu District People's Court in Shanghai has ruled on the city's first digital RMB "money muling" case. A criminal gang used digital RMB accounts to facilitate "money muling" for overseas criminals involved in online fraud and gambling activities, purchasing virtual currencies and transferring them to designated accounts.
Between May and June 2023, the gang withdrew over 10 million yuan from more than 900 digital RMB accounts, including 800,000 yuan originating from victims of telecom and internet fraud.
The court found the eight defendants guilty of concealing and disguising criminal proceeds, sentencing them to fixed-term imprisonment ranging from seven months to four years and six months, along with fines between 5,000 and 45,000 yuan. Two other defendants were sentenced to one year and four months in prison and fined 10,000 yuan for aiding information network criminal activities.
