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Group sentenced for laundering $17M for Chinese fraud ring

January 22, 2026, 4:56 AM
A group has been sentenced to prison for laundering approximately 23 billion won (about $17 million) in proceeds for a Chinese online fraud organization, Yonhap News reported. The individuals were convicted of receiving funds from the criminal enterprise, using the money to purchase cryptocurrency on exchanges, and then transferring the assets back to the organization.

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