failure and debt

A public official in Zhejiang killed his wife to defraud insurance after failing in stock and cryptocurrency trading and accumulating debt. He has been sentenced to death

ChainCatcher news reports that, according to The Paper, the family of the victim revealed that Dai Lumin, a former official of the Natural Resources and Planning Bureau of Taizhou City, Zhejiang Province, was executed on the morning of February 2. In September 2020, Dai Lumin lured his newlywed wife to commit suicide by poison, attempting to defraud insurance compensation. At the time of the incident, they had been married for less than two months. Dai Lumin had incurred huge debts before the crime and was in a second marriage with the victim, who unfortunately died from pufferfish toxin. On December 1, 2021, the case was heard in the Taizhou Intermediate People's Court of Zhejiang Province.The prosecution accused Dai Lumin of incurring debts of over 2.6 million yuan due to failed stock trading and virtual currency speculation, leading him to develop the malicious intent to kill for insurance money to alleviate his financial pressure. On April 26, 2020, Dai Lumin had Wang purchase a term life insurance policy with a coverage amount of 2 million yuan online. As the 90-day waiting period for the insurance was about to expire, Dai Lumin married Wang on July 20, 2020, and on July 24, he had Wang change the beneficiary of the insurance from her father to himself. Wang's family mentioned in the civil suit attached to the criminal case that Wang was just one of Dai Lumin's many female friends, and that the entire process of purchasing insurance, getting married, and changing the beneficiary was induced by Dai Lumin.The victim's family's attorney believes that Dai Lumin directly committed intentional murder to defraud a large amount of insurance money, with extremely heinous circumstances and methods, which should constitute direct intentional homicide and insurance fraud, warranting the death penalty. Due to his criminal actions, Wang's family suffered significant economic and mental losses and should be compensated. In 2022, Dai Lumin was sentenced to death for intentional homicide in the first instance, and the second instance upheld the original verdict.
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