Yi Xiao, a former local official in China’s southeastern Jiangxi province, has been charged with abuse of power to facilitate crypto mining activities in China.
According to the findings of the Hangzhou court, from 2008 to 2021, Xiao took advantage of his position, including when serving as vice chairman of the Jiangxi provincial legislature, to receive kickbacks of more than 125 Million Yuan ($17.1 million USD).
In addition, while serving as party secretary of Fuzhou city from 2017 to 2021, he assisted a crypto-mining company that “caused significant losses to the public, national, and community interests,” the court said.
As a result, Xiao will have to spend the rest of his life in prison, will no longer have political rights for the rest of his life, and is preparing to have his property assets seized.
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