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Japanese Authorities Uncover $237M Real Estate Crypto Scam Involving Chinese Investors

November 13, 2021
Source: kryptomoney.com kryptomoney.com
News Snapshot:
Authorities in Tokyo unveiled a real estate-related scam worth $237 million, involving digital currencies. This scheme was allegedly uncovered while the Tokyo Regional Taxation authorities audited a company’s tax history in Taito Ward. The agency discovered that although the company reported annual sales of 10 million yen, there was a much larger company cash flow. In addition, over three years, three Chinese nationals sent 27 billion yen in crypto to the suspect Tokyo-based company to convert to yen. Instead, the now-embattled company chose to keep some of the yen in its own coffers as commission. The Chinese nationals involved were...
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Tags: bank | Bank of China | bitcoin | blockchain | cash | China | Chinese | commission | copyright | copyright infringement | crypto | cryptocurrency | currency | digital | finance | fintech | fraud | infringement | Japan | Japanese | news | real estate | Renminbi | Tokyo | Yuan

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