TechFlow, September 5 — According to Caixin, the operator of Beijing's largest over-the-counter margin trading platform, Song Shijie, who owes 22 million yuan in unpaid fines to the Chinese treasury, has agreed to forfeit nearly 200 million yuan worth of assets to authorities in the UK and the US. The UK's National Crime Agency has seized his luxury home, apartment, and bank accounts in London valued at 16.7 million pounds (approximately 161 million yuan), determining the funds originated from illegal securities trading in China and money laundering activities in the UK.
Caixin reported that Song Shijie is also involved in cryptocurrency "pig-butchering" scams. His three Binance accounts, holding around $10 million in crypto assets, have been frozen. A court document from Orlando, Florida, dated late March, indicates he avoided criminal charges by relinquishing ownership claims.
