Zhao Dong Appears in the U.S., Released from Prison

BlockBeats News, September 10th, Guo Hongcai posted on social media a picture showing that Zhao Dong appeared in the United States and has been released from prison.

Previously reported, on May 12, 2021, the People's Court of Xihu District, Hangzhou, lawfully tried the Zhao Dong and Zhao Peng cases. Zhao Dong and Zhao Peng were both sentenced in court for their involvement in a loan fraud scheme. Zhao Dong was detained on June 24, 2020, and arrested on July 18.

Zhao Dong and Zhao Peng were involved in the illegal virtual asset disposal of a platform called "Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up". They converted the digital assets involved in this illegal online payment platform into fiat currency. Zhao Dong received a 70% share of the OTC business-related benefits.

According to previous reports by Mobile Payment Network, the "Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up Up" platform is a money laundering criminal gang led by Zhou, involving illegal settlement, behind which are numerous overseas gambling websites, with a total amount involved reaching 3.1 billion RMB.