Chinese court approves prosecution's request to seize over 61,800 BTC and other assets in a RMB 40 billion fraud case.

According to ME News, on October 14 (UTC+8), the Second Intermediate People's Court of Tianjin announced on October 13 that it had accepted the case on September 28, filed by the Second Branch of the Tianjin People's Procuratorate, seeking the confiscation of illicit gains from suspect Qian Zhimin. The case involves over RMB 40 billion in illegal fundraising and 61,800 bitcoins.
According to the list of assets subject to forfeiture published by the Second Intermediate People’s Court of Tianjin, the involved virtual currencies also include approximately 72,700 Bitcoin Cash, approximately 72,700 Bitcoin Gold, approximately 72,700 Bitcoin Satoshi’s Vision, approximately 3.606 million Ripple (XRP), and approximately 70,081,200 Dogecoin. The aforementioned Dogecoin has been converted by UK judicial authorities and deposited into an interest-bearing account. The assets subject to forfeiture also include cash in US dollars, euros, and pounds sterling, jewelry, as well as bank balances and investment portfolios. The Second Branch of the Tianjin People’s Procuratorate believes that Qian Zhimin is suspected of fundraising fraud, has fled and been wanted for over a year without appearing, and that the more than 61,800 bitcoins and other assets seized in the UK constitute illegal gains and their proceeds, which should be lawfully confiscated and forfeited, except for amounts to be returned to affected investors. (Source: ODAILY)