Former executives of Huludao Bank once removed 2.60 billion yuan and laundered the remaining 1.80 billion yuan through virtual currency

According to the daily economic coverage, in August 2020, Li Yulin, the former party secretary of Huludao Bank, together with Li Xiaodong, the original president of the bank, colluded with Duan Hongtao (the former major shareholder of the bank) and Zhou Zhilong to resolve the bank's non-performing assets. The fictitious asset management plan misappropriated 2.60 billion yuan of the bank's funds for Duan Hongtao to squander. The remaining 1.80 billion yuan were illegally exchanged into foreign currency and transferred to the Hong Kong company account controlled by Duan Hongtao. Among them, an unemployed man born in the 1980s used two bank cards under his name to help transfer the above funds 250 million yuan, was sentenced to 2 years and 3 months, and fined 2 million yuan.
From September to October 2020, Xiang Mou1, together with Chen Mou3, Zheng Mou3, Xu Mou3, Kong Mou2 (all handled separately) and defendant Chen Mou1, was organized and directed by Xiang Mou1. Chen Mou3 was responsible for counting and checking funds. Zheng Mou3 was responsible for remittance. Xu Mou3, Kong Mou2, Xiang Mou2 and defendant Chen Mou1 were in the WeChat group of virtual currency transactions such as "Longmen Inn" to acquire virtual currencies at a higher-than-market price. Afterwards, the obtained virtual currencies were sold overseas and exchanged for US dollars through overseas virtual currency acquirers to remit money to the bank account of the Hong Kong company.