TechFlow news, the Jingkou District People's Procuratorate of Zhenjiang City recently announced that the court sentenced Li and seven others to three years' imprisonment with a suspended sentence of three to five years, and imposed fines ranging from 210,000 to 250,000 yuan for the crime of illegally absorbing public deposits.
Under the guise of "one FIL coin yielding double returns," they claimed to cooperate with mining machine providers for Filecoin pledge mining. Through their self-developed FPM app, they attracted over 10,000 members within less than a year, amassing more than 400,000 FIL coins, involving over 40 million yuan in total.
The case spanned multiple provinces and cities including Jiangsu, Guizhou, and Hunan. Prosecutors stated that the suspects used the vast amount of collected FIL coins to collaborate with mining machine providers for pledge-based "mining," which continued generating returns up to the time of the incident.
