Chengdu court disclosed virtual currency fund-raising fraud, money laundering case, 29,000 more than one participant lost a total of more than 1.70 billion yuan

The Chengdu court released ten typical cases in 2024, which disclosed a case of fund-raising fraud and money laundering of "GUCS" virtual currency and associated software "Wa11et Pro" APP. Defendant Wang Moumou and others trumpeted the economic value and investment prospects of GUCS coins in Chengdu, Deyang, Meishan and other places, and developed offline in the form of pulling people's heads, causing more than 29,000 fund-raising participants to lose a total of more than 1.70 billion yuan. Wang Moumou was sentenced to life imprisonment, deprived of political rights for life, and confiscated all personal property.
In addition, the Chengdu court also disclosed a dispute between a Singaporean company and a Sichuan real estate company over the sale and purchase contract of "mining machines", ruling that a Sichuan real estate company refunded a Singaporean company's payment of US $836,000 for goods, US $22,534 for freight and insurance, and rejected other claims of a Singaporean company.