Chinese Official Receives Life Sentence for Illicit Crypto Mining and Bribery
08/23 21:00
Xiao Yi, a former senior provincial official in China, has been sentenced to life in prison for supporting local crypto mining businesses and accepting bribes. Yi, who held positions as Vice Chairman of the Jiangxi Provincial Committee of the Chinese People’s Political Consultative Conference and Communist Party Chief of Fuzhou City, was found to have provided fiscal and electrical support to crypto mining firms. He was also accused of hiding a mining firm as a big data and cloud computing business, instructing a local mining group to deceive government inspections, and doctoring power usage statistics to conceal mining activities.
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