Chinese employee jailed after losing embezzled funds in crypto

An employee at a publishing house in China's Fujian province has been sentenced to prison after embezzling company funds to invest in cryptocurrency and losing the entire amount, according to an announcement from prosecutors in the city of Xiamen. The employee, identified by his surname Guo, misappropriated 1.53 million yuan (around $214,000) by swapping the company's payment QR code with his personal WeChat QR code. After losing all the money in crypto investments, Guo turned himself in. A court sentenced him to two years and three months in prison and imposed a fine. Xiamen prosecutors said the case serves as a cautionary tale.