Xiao Yi, a former Chinese political figure, has been sentenced to life imprisonment due to his involvement in corruption and manipulating his authority, stemming from an illegal Bitcoin mining operation.
Xiao Yi, who had previously held significant positions, including membership in the leading party group and vice chairman of the Jiangxi Provincial Committee of the Chinese People’s Political Consultative Conference, was found guilty of accepting bribes and exploiting his position for personal gains.
During the trial proceedings, it was revealed that between 2008 and 2021, Xiao Yi had manipulated his official roles to bestow undue benefits upon individuals and organizations, including facilitating a BTC mining operation worth over $300 million. After thorough deliberation, the Hangzhou Intermediate People’s Court concluded that Xiao Yi’s actions constituted bribery and abuse of power.
