The amount involved is 42 million! A man in Lianyungang was arrested on suspicion of illegally buying and selling foreign exchange

Knowing that he did not have foreign exchange business qualifications, he did a full-time "scalper" to buy and sell foreign exchange, and the amount involved in the case was as high as 42 million yuan in less than a year. Recently, the Haizhou District Procuratorate of Lianyungang City approved the arrest of the person involved in the case, Dai Mou, on suspicion of illegal business operation.

Jiangsu people Dai Mou, long-term unemployed, heard friends say that trading foreign exchange can make money, he moved to think carefully, long-term squatting near the local bank in Lianyungang, starting from a small order of hundreds of thousands of dollars, and gradually became a "scalper" with certain influence in foreign exchange scalping, Dai spent more than 1 year. In May 2020, the early "pay" finally had a "return", and Dai ushered in a large customer. Yan Mou, who is doing business abroad, contacted Dai Mou, saying that his company had many US dollars that could not enter the domestic account normally, hoping that Dai could "help". With this overseas trump card in his hand, Dai's business is becoming more and more prosperous, through intermediary contacts, introducing others to buy and sell foreign exchange in the form of domestic account settlement of RMB and overseas account settlement of US dollars to earn the difference, and each time the foreign exchange is resold to make a profit of 2-3 points. From May 2020 to May 2021, in just one year, the cumulative transaction amount has reached more than 6.6 million US dollars, equivalent to about 42 million yuan, and Dai has made more than 800,000 yuan from it.

On December 21, 2021, the Haizhou Branch of the Lianyungang Municipal Public Security Bureau transferred Dai's suspected illegal business operation case to the Haizhou District Procuratorate for review and arrest, and the Haizhou District Procuratorate made a decision to approve the arrest on December 28 of the same year.

The procuratorial organs remind that, in accordance with the relevant laws and regulations of the state on foreign exchange control, the operation of foreign exchange business should be approved and licensed by the state, and exchanged at designated banks and statutory foreign exchange points. Any private exchange of foreign exchange that is not achieved through bank exchange or a chartered agency is illegal. When the broad masses of the people need to use foreign exchange, they should rationally choose a legal mode of exchange, and must not covet temporary convenience and give criminals an opportunity to take advantage of it.

Yangzi Evening News/Purple Cow News Reporter Zhang Lingfei Correspondent Wang Fang Zongshen

Source: Purple Cow News