GuShiio.com GuShiio.com learned that according to Guangzhou Daily, a Guangdong court recently concluded a virtual currency fraud case. Defendant Xie Moumou created Company A to issue a virtual currency called AA Chain, promising investors that the currency would be listed on the exchange and receive high returns. In May 2018, Xie Moumou promoted through the Internet that AA coins would be listed and appreciated. An investor invested 990,000 yuan to purchase more than 1.6 million AA coins, but the coins were always locked and could not be traded. The court found that he constituted a crime of fraud, involving a particularly huge amount of money, and sentenced him to 11 years in prison and fined 50,000 yuan. The verdict has taken effect.
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