PANews reported on September 21st that the Jilin Provincial High People's Court's official account revealed that the Longjing Municipal People's Court in Jilin Province recently heard a case involving concealing and hiding criminal proceeds. Four defendants were convicted of laundering proceeds by purchasing gold for a telecom fraud scheme, selling it for cash, and transferring virtual currency through illegal virtual currency platforms. They were sentenced to prison terms ranging from two to one year and fined between 10,000 and 20,000 yuan. The defendants reportedly transacted over 789,000 yuan, of which over 452,000 yuan was verified as fraudulent.PANews reported on September 21st that the Jilin Provincial High People's Court's official account revealed that the Longjing Municipal People's Court in Jilin Province recently heard a case involving concealing and hiding criminal proceeds. Four defendants were convicted of laundering proceeds by purchasing gold for a telecom fraud scheme, selling it for cash, and transferring virtual currency through illegal virtual currency platforms. They were sentenced to prison terms ranging from two to one year and fined between 10,000 and 20,000 yuan. The defendants reportedly transacted over 789,000 yuan, of which over 452,000 yuan was verified as fraudulent.