Hebei High Court: A man who illegally raised funds by exploiting the "metaverse" concept in a case involving over 15 million yuan was sentenced to five years and four months in prison.
Svmuu News: The Hebei Provincial High Court has released typical cases involving the crackdown on illegal fundraising. A man used the “metaverse” concept to package an investment project and promoted the “Newmateworks” platform—operated by “Yishang United Community”—to the public, offering investment opportunities in virtual goods. He induced the public to participate in the investment, directly referring 19 investors who invested a total of 15,393,600 yuan on the platform. Of this amount, 1,101,400 yuan has been returned, with 14,292,200 yuan still outstanding. The court ruled that this case involved fraudulent marketing under the guise of emerging technological concepts such as the “metaverse,” violating national financial management laws and regulations. Given the substantial amount involved, the conduct constituted the crime of illegally absorbing public deposits. Chen was sentenced to five years and four months in prison and fined.
No AI analysis yet. Tap the "AI Analysis" button above to generate one now.
Source:Odaily · Source Link
Disclaimer: This content reflects only the author’s personal views and does not constitute any investment or financial advice. If you discover any content that violates regulations,Click to Report
24H Trending
-
1
Aethir (ATH) Token Value Analysis: Decentralized Cloud Computing Project Potential and Risk Assessment
-
2
What is WKAI? Wrapped KardiaChain (WKAI) Project Analysis and Risk Warning
-
3
HYN (Hyperion) Analysis: Decentralized Map Project Status and Market Activity Review
-
4
Bitcoin rises above $77,000, bucking tech selloff driven by AI safety concerns and rising oil prices
-
5
NOAH Coin Analysis: Distinguishing Between Controversial Projects and Active Payment Infrastructure
-
6
RIKEN Coin Value Analysis: Numerous Projects Share the Same Name, What's Its Investment Potential?
-
7
FXBK Coin Analysis: What Is It? Is It Worth Investing In?
-
8
Guyana's President: Oil Revenue Surges Due to Iran Conflict
-
9
Cosco Shipping Heavy Industry Completes China IPO Guidance Registration
-
10
Beginner's Guide to Bitcoin Trading: A Comprehensive Analysis of Security Risks and Prevention Strategies
Markets Today
Recommended Reading









