Man Sentenced to Five Years and Four Months for Illegal Fundraising Using Metaverse Concept in China

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According to BlockBeats and an announcement by Hebei High Court on June 17, a man was sentenced to five years and four months for illegal fundraising under the guise of metaverse investment. He promoted virtual commodity investment projects to the public, directly attracting 19 investors to contribute 15.39 million yuan. Of this amount, 1.10 million yuan has been returned, with 14.29 million yuan remaining outstanding. The court ruled that the scheme violated national financial regulations and constituted illegal absorption of public deposits.
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