Five Defendants Sentenced in 29.5 Billion Yuan Online Gambling Case Involving USDT Settlements

According to Caixin, an inner Mongolia intermediate court upheld a conviction against Ma and four co-defendants in a case involving illegal payment settlement for online gambling operations. From May 24, 2022 to October 18, 2023, the five defendants processed over 29.5 billion yuan in settlements through 105 merchant accounts across 10 third-party payment companies, collecting commissions and rebates in USDT and other virtual currencies alongside bank transfers.

The court found Ma guilty of illegal business operations, sentencing him to four years and six months in prison with a fine of 3 million yuan. The four other defendants received sentences ranging from three to six years.