30 Individuals Charged in Shenzhen's Major Financial Fraud Prosecution

The Shenzhen People’s Procuratorate has brought formal charges against Sui Guangyi, Ma Xiaoqiu, and 28 co-defendants in connection with an extensive financial fraud scheme. According to reports from NS3.AI, the prosecution alleges that the defendants orchestrated illegal fundraising operations through Ding Yifeng Asset Management and its network of subsidiary enterprises.

Alleged Criminal Activities and Deceptive Schemes

The defendants were charged with multiple financial crimes including fraudulent fundraising, unauthorized deposit collection, and money laundering. Prosecutors claim that the accused implemented their illegal operations by promoting counterfeit financial products and air tokens marketed under the “DDO Digital Options” brand. This sophisticated scheme exploited investor trust through deceptive marketing practices and fraudulent product offerings designed to illegally accumulate public funds.

Enforcement Actions and Asset Recovery

Authorities have taken decisive action to prevent further harm and recover ill-gotten gains. Law enforcement has seized substantial assets from those charged, including real estate properties, vehicles, and corporate equities linked to the criminal network. Additionally, multiple bank accounts associated with the suspects remain frozen as investigations continue and authorities work to identify and return assets to defrauded investors. These enforcement measures underscore the judicial system’s commitment to prosecuting complex financial fraud cases and protecting the public from predatory schemes.