The former deputy director of the Beijing Financial Bureau was sentenced to 11 years in prison for involvement in a Bitcoin money laundering case

2025-02-08 08:46:16

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ChainCatcher news, according to Caixin reports, former deputy director of the Beijing Municipal Bureau of Financial Supervision and Administration, Hao Gang, was sentenced to 11 years in the first instance.

Hao Gang was involved in Bitcoin money laundering and had assisted executives of a leading Bitcoin mining company in lifting travel restrictions, with the amount of bribes possibly reaching tens of millions. Hao Gang previously served as the director of the Financial Risk Management Department of the Beijing Financial Bureau and became a member of the Party Leadership Group and deputy director of the Beijing Financial Bureau in August 2019, overseeing the risk sector, until he was investigated in April 2023 for suspected serious violations of discipline and law.

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