710,000 people participated in the trial of the WoToken virtual currency pyramid scheme that absorbed 7.7 billion yuan

On May 14, the "WoToken" large-scale virtual currency network MLM case was publicly heard in the People's Court of Binhai County, Yancheng City.

According to the appraisal center, from July 2018 to October 8, 2019, the "WoToken" platform had a total of 715,249 registered members, with 501 layers of hierarchical relationships.

During this period, more than 286 million TEDA coins, more than 46,000 bitcoins, more than 2.039 million ethereum coins, more than 292,000 litecoins, more than 56,000 bitcoin cash coins, and more than 6.841 million grapefruit coins were absorbed during this period.

Calculated based on the price of digital currency on the day of the incident, the total value of the above-mentioned virtual currency is more than 7.769 billion yuan.

Gao Yudong, Li Qibing, Wang Xiaoying (formerly known as Wang Xiaoping), Tian Yongbo, Li Guomin, Tang Xiaohua and other six defendants were tried for the crimes of organizing and leading pyramid schemes, covering up and concealing income, and harboring.

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Around August 2018, Gao Yudong, Li Qibing, Wang Xiaoying, and Liu Liangting discussed to develop the "WoToken" platform together to engage in online MLM activities. Among them, Gao Yudong is responsible for recruiting technical personnel to set up the platform, Li Qibing, Wang Xiaoying and others are responsible for online and offline promotion, and Tian Moubo is responsible for the custody of digital currency on the "WoToken" platform.

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The "WoToken" platform uses the Internet as a carrier and spreads in my country without any actual business activities. In the name of providing digital currency appreciation services, the platform falsely claims that it has the function of the Apollo intelligent robot to move bricks, and requires members to pay a certain value of digital currency to activate the Apollo intelligent robot and obtain high static income.

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At the same time, members form upper and lower levels according to the order of recommendation, and online members can share benefits according to the level and number of members they develop.

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The review identified the defendants Gao Yudong, Li Qibing, and Wang Xiaoying. In the name of the platform providing virtual digital currency value-added services, participants are required to obtain qualifications by paying fees, and form tiers in a certain order, and invest in the amount according to the number of development personnel as the basis for rebates. To lure participants to continue to develop others to participate, to defraud property and disrupt social and economic order.

The defendant Gao Yudong was responsible for the establishment and maintenance of the platform in the organization of pyramid selling activities. The defendant Wang Xiaoying and Li Qibing were responsible for the promotion of the platform. The defendant, Tian Yongbo, was still responsible for the fund custody of the platform even though he knew that the platform was a pyramid scheme. The facts of the crime are clear and the evidence is sufficient. They should be investigated for criminal responsibility for the crime of organizing and leading pyramid selling activities.

The defendant in this case, Li Guomin, knew Li Qibing clearly. The digital currency in the mobile phone is the proceeds of crime. Still helping divert its crimes. The facts are clear, the evidence is indeed sufficient, and he should be investigated for criminal responsibility for the crime of covering up and concealing criminal proceeds.

Defendant Tang Shaohua knew that Wang Xiaoying committed a crime. Still provide a hiding place, the facts of the crime are clear, the evidence is solid and sufficient, and he should be investigated for criminal responsibility for the crime of harboring.

In view of the fact that Gao Yudong, the defendant in this case, was sentenced to fixed-term imprisonment for an intentional crime, and if he commits another crime within five years after the execution of the punishment, he should be sentenced to fixed-term imprisonment. He is a repeat offender and should be given a heavier punishment.

Note: Previously, Gao Yudong was sentenced to 10 years in prison by the People's Court of Zhoucun Zhoucun District, Zibo City, Shandong Province on October 3, 2009, and fined RMB 20 million for committing the crime of illegal business operation. 2014. Released after serving his sentence on May 30.

In view of the fact that the defendant Gao Yudong in this case did not accept the main criminal facts and charges in today's court trial, and his plea of guilt and acceptance of punishment is not recognized, it is recommended that the court sentence the defendant Gao Yudong to nine to eleven years in prison and a fine.

In view of the fact that the defendant in this case, Li Qibing, was brought to justice. Confessing one's own crimes can be given a lighter punishment according to the law. In view of the suggestion that the defendant Li Qibing pleaded guilty and punished in court, and cooperated with the public security organs to actively return the stolen goods, it is suggested that the court can give a lighter punishment as appropriate. It is recommended that defendant Li Qibing be sentenced to six years in prison and fined.

In view of the fact that Wang Xiaoying, the defendant in this case, truthfully confessed his crime after being brought to justice, pleaded guilty and accepted punishment in court, and cooperated with the public security organs to withdraw part of the stolen money, it is suggested that the court can give a lighter punishment as appropriate. It is recommended that defendant Wang Xiaoying be sentenced to six years and six months in prison and fined.

In view of the fact that the defendant Wang Tianyongbo played a secondary role in the joint crime, it is suggested that the court can identify him as an accomplice and suggest that the court can give a lighter or mitigated punishment.

After the defendant Tian Yongbo returned to the case, he truthfully confessed his main criminal facts and pleaded guilty in court. It is suggested that the court sentence the defendant Tian Yongbo to two years and six months of execution and a fine.

In view of the fact that Li Guomin, the defendant in this case, truthfully confessed all his criminal facts after he was brought to justice, and pleaded guilty and accepted punishment in court. It is recommended that the defendant Li Guomin be sentenced to three years in prison and fined.

The defendant, Tang Xiaohua, voluntarily surrendered, confessed his crime truthfully, and pleaded guilty in court. It is recommended that defendant Tang Xiaohua be sentenced to six months in prison.

Due to the seriousness of the case and the large number of people involved, the court adjourned the case after more than six hours of trial.

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