Shenzhen Prosecutor's Office filed charges against 30 suspects in a large-scale financial scam

GweiWatcher · 2026-01-31T15:01:19+00:00

Prosecutors in Shenzhen have initiated legal proceedings against 30 individuals, including Sui Guangyi and Ma Xiaoqiu, for organizing a large-scale financial fraud scheme involving fundraising fraud and money laundering. The suspects misused an asset management structure to promote fake investment products. Law enforcement has confiscated their properties and frozen bank accounts to hinder further illegal activities, highlighting the prosecutors' commitment to combating financial crimes and protecting regional financial security.

GweiWatcher

2026-01-31 15:01:19

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The Shenzhen Prosecutor’s Office has initiated legal proceedings against 30 individuals accused of organizing a large-scale financial fraud scheme. According to NS3.AI, the prosecutor has charged Sui Guangyi, Ma Xiaoyu, and 28 other accomplices with serious crimes, including fundraising fraud, illegal collection of government deposits, and money laundering.

Digital Asset Fraud Scheme

According to investigation materials, the suspects used an asset management structure owned by Ding Yifeng, along with his controlled companies, as a tool to carry out illegal financial operations. The criminals distributed counterfeit investment products and tokens called “DDO Digital Options,” attracting citizens to participate in fraudulent schemes. This mechanism allowed the perpetrators to extract profits through deception and misinformation about investment returns.

Law Enforcement Measures Taken

During the investigation, the prosecutor authorized the confiscation of property belonging to the accused, including vehicles, stocks, and other securities. Additionally, bank accounts linked to the suspects and their companies were frozen, making it difficult to further transfer criminal proceeds. These measures helped strengthen the prosecutor’s control over the assets seized through illegal means.

Significance of the Case for Financial Oversight

This large-scale crackdown demonstrates the active stance of Shenzhen law enforcement in combating financial crimes. The prosecutor leading this case aims to tighten responsibility for illegal fundraising from the public and the use of digital assets for fraud. The successful initiation of criminal proceedings against 30 participants is considered a significant achievement in the prosecutor’s efforts to protect the region’s financial security.

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