China's 60-year-old woman was sentenced to 4 years in prison for defrauding a young man of more than 200,000 yuan and investing in virtual currency transactions

Recently, the Haidian Court in Beijing, China, ruled on a fraud case. Retired man Meng was addicted to virtual currency trading and unwilling to use his pension. He established an online dating relationship with a young man by disguising himself as Xiaohong, a staff member of a "central ministry" in his 20s, on the Short Video platform. Meng defrauded the man of more than 200,000 yuan in total on the grounds that his family was sick and urgently needed surgery fees and went abroad to prepare for exams.<br /> Meng invested all of the more than 200,000 yuan he had defrauded into virtual currency trading and opened up ten-fold leverage. Later, due to the decline in the market, he suffered a short position and lost all his funds. The Haidian Procuratorate previously prosecuted Meng for fraud. The Haidian Court finally sentenced Meng to 4 years in prison and fined him, and ordered him to refund the victim's economic losses.