Feng and his team embezzled 20 million USD from a Beijing tech firm using fake bonus payouts. The scheme involved the manipulation of company policies and the creation of shell companies. Eight people received prison sentences, with Feng getting the longest, 14 years and six months.
The stolen money was laundered through Bitcoin using multiple exchanges and coin mixers to hide the transaction trail. Investigators managed to recover over 90 Bitcoin, confirming the complexity of the money-laundering methods utilized by the gang.
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