Involving a Bitcoin Money Laundering Case, Former Deputy Director of Beijing Financial Supervision Bureau Sentenced to 11 Years

BlockBeats News, February 8th, according to Caixin report, Hao Gang, former Deputy Director of the Beijing Local Financial Supervision and Administration Bureau, was sentenced to 11 years in the first instance.

It is reported that in addition to being involved in Bitcoin money laundering, Hao Gang also assisted a senior executive of a leading Bitcoin mining company in removing border controls, with bribes amounting to millions of RMB.

The Beijing Second Intermediate People's Court sentenced the defendant Hao Gang to eight years in prison for the crime of bribery, imposed a fine of RMB 500,000; sentenced to four years in prison for the crime of money laundering, imposed a fine of RMB 800,000, decided to implement a combined sentence of eleven years in prison, and imposed a fine of RMB 1.3 million. The illicit gains from bribery and interest shall be confiscated and turned over to the state treasury.