These two tycoons have made a lot of money in China by improper means, and they thought that they could sit back and relax when they went abroad, but they were tragically cleaned up by the United States and cut into pieces. One was fined $7.216 billion, as much as RMB 51.5 billion, by the United States. The other faces a maximum of 27 years in prison, which means that life is worse than death, so what are the origins of these two rich people? Why did the United States hold on to these two fat sheep?
Let's talk about the number one person, Changpeng Zhao, the head of Binance. In March, Metji asked him to hand over all his passports and was barred from applying for exit documents from any country. The United States not only squeezed his last copper plate dry, but also imprisoned him in the United States. Changpeng Zhao was born in Lianyungang, Jiangsu. At the age of 10, he immigrated to Vancouver, Canada with his parents. But in the early years, his family was not well-off, and at one time he had to work at McDonald's and gas stations to earn a meager income. However, he is an out-and-out top student, and was admitted to McGill University in Canada to study computer science. After graduating from university, he worked for various stock exchanges in Tokyo and the United States, and gained experience in various multinational companies at a young age.
Later, China gained momentum. Changpeng Zhao began to move to Shanghai to build a high-frequency trading system for domestic securities companies. It didn't take long for him to seize the opportunity and set up his own portal to create the Binance platform, specializing in virtual currency. In the first three months of opening, Binance's profit reached 7.5 million US dollars, and it grew by leaps and bounds in half a year, directly jumping to 200 million US dollars, and the financial circle was stunned! But the good times did not last long, in 2017, seven domestic ministries and commissions jointly issued an order, declaring that virtual currency financing activities are illegal. How could Changpeng Zhao sit still, so he had to look for a place to live with his team all over the world. But the disaster is not alone, a number of major countries in the world have also begun to crack down on virtual currency, Changpeng Zhao and Binance are like rats crossing the street, hiding everywhere. As a result, Changpeng Zhao used the method of working from home, dismissed more than 4,000 employees around the world, and commanded himself online. Binance does not have an office or a fixed foothold, but it has a huge presence on the network, with a daily trading volume of $76 billion in 2021 and hundreds of millions of dollars in daily fee income.
With such a large sum of money, the United States is of course envious, jealous and hateful. But the reason why the United States really did it was that Changpeng Zhao's Binance shook the status of the dollar, because in Binance, anyone can open an account, completely ignoring the dollar system, and Binance has also become a money laundering hall. As a result, the United States began to charge him with money laundering and securities law violations. In December 2023, the United States issued a sky-high fine of $2.85 billion to Binance. Zhao Changpeng didn't say a word, and hurriedly paid off the fine, thinking that this matter was over, but as a result, the United States suddenly resorted to delaying tactics, using various excuses to restrict him from leaving, and "crazy increased" the charges against Zhao Changpeng. Even if Changpeng Zhao pays a staggering $7.216 billion in fines, the United States has no intention of letting him go. It seems that Lao Mei wants to completely drain his wealth, and then, or be sent to other countries, leaving him to fend for himself.
The fate of another billionaire, Qin Hui, is even more miserable, Changpeng Zhao can at least survive on his remaining assets, while Qin Hui faces a whopping 27 years behind bars. In contrast, although Changpeng Zhao's encounter was tragic, it was still a bit of a turnaround, and Qin Hui was really worse than dead. In March 2024, Qin Hui pleaded guilty to three crimes in the United States, not lightly charged: immigration fraud, false identification, etc. Because Qin Hui is not an ordinary person, he has disappeared for six years, the former owner of the "Heaven and Earth" nightclub, and once relied on a net worth of $1.8 billion to make it to the Forbes rich list.
Qin Hui relied on the import and export of iron ore and earned his first pot of gold. Due to his work, Qin Hui often talks business with various businessmen in entertainment venues, so he is familiar with the operation of nightclubs. In 1995, he used a company as a guarantee, and borrowed $1.8 million to buy a Taiwanese nightclub, renamed it "Heaven and Earth," and spent 160 million yuan to decorate it, which was still in 2003.
But the good times didn't last long, something happened in heaven and earth, and a big case broke out that shook the capital - the top brand Liang Hailing was killed, not for money or for sex, and the tens of millions of huge sums left behind were not lost, which caused countless reveries in the capital. In 2010, the wind of the crackdown rose, and Qin Hui evaporated from the world and disappeared for six years. It wasn't until 2018 that Qin Hui reappeared. That year, he wanted to buy a cultural company and tried to come up with 20 billion yuan to buy a shell listing. But due to strict supervision and complete ruin, he also became an old man and could only flee to the United States. originally thought that the United States would be safe and sound, but the United States gave him a hard blow, completely leaving him with no room to hide. Really, Skynet is magnificent, negligent but not leaky! The United States has made Qin Hui fall from heaven to hell.
October 2023. Qin Hui was arrested in the United States. U.S. media broke the news that Qin Hui donated $11,600 to New York officials in his personal name, thus defrauding him of a green card and a Florida driver's license. What's even more fierce is that he used a fake name on the documents of the USCIS, called Li Mulin, and insisted that he had never used another name. If Qin Hui pleads not guilty, the United States is ready to lock him up for 27 years. But if he pleads guilty, the sentence could be as little as six months.
Qin Hui thought that with the money he got in China, he would be able to live a stable life in the United States. However, who knows, the United States is not a vegetarian, and when it sees that this fat sheep is coming to deliver it to the door, how can it not slaughter it properly? The United States will not give up if it does not squeeze out the money on him. Judging from the current situation, since Qin Hui has pleaded guilty, US law stipulates that he will be imprisoned for a maximum of six months. But after he was released from prison, he had to have his green card revoked and leave the United States completely. And Changpeng Zhao, we don't need sympathy. Although he was born and raised in Jiangsu, he is now a dual citizen of Canada and the United Arab Emirates, and he cannot speak both in Chinese. Binance is not a company under the control of China, our country has long strictly banned cryptocurrencies, and Binance is a typical gray area. What happened to these two tycoons in the United States is completely self-inflicted, and we really don't need sympathy. The way the United States dealt with these two tycoons was like a dog that saw a bone, greedy and unscrupulous, and this kind of piracy was equally despicable.