Nine Chinese fraudsters have been sentenced to prison terms for defrauding Indians of $6 million through a USDT fraud scheme. The fraudsters used translation and chat software to befriend foreigners, gain their trust, and trick them into investing their money. The scheme targeted victims from India and involved a fake investment platform. The People’s Court of Heze Economic Development Zone in Shandong Province heard the case and imposed prison terms ranging from 5 to nearly 15 years, along with fines.
The leader of the group, He Moutian, set up the operation in China and posed as a successful investor. He gathered several people to form a fraud gang and used overseas servers to avoid detection. The group promoted a fake investment platform called SENE. They used translation and chat software to communicate with people in India, pretending to be friendly investors and promising high monthly returns. Once the victims invested larger amounts, the scammers shut down the platform and froze their funds.
To appear more believable, the fraudsters shared fake lifestyle photos and set their app locations to different Indian cities. They also created a fake company website with edited licenses, registration certificates, and business documents to make the platform seem real and trustworthy. One of the fraudsters, Li Mouwang, pretended to be a rich Indian woman and built fake relationships with Indian men to convince them to invest in the fake SENEE fund.
The court found that the group worked in a highly organized way, with each member having a clear role in the scam. The judge warned the public not to trust offers that promise quick money, insider tips, or cashback rewards for placing orders, as these are common signs of fraud. Authorities in China are increasing their efforts to crack down on online and telecom fraud, and the court encouraged other fraudsters to surrender and cooperate with investigations for a chance at lighter punishment.
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