BlockBeats News, April 14th. Recently, the People's Court of the Economic Development Zone in Heze City, Shandong Province, heard a case of telecommunication network fraud targeting Indian victims involving a practice known as "kill foreigner scam." The amount involved in the case reached 517 million Indian rupees (equivalent to over 40 million yuan), affecting 66,800 victims. Nine fraudsters involved in the case were sentenced to imprisonment ranging from five years to fourteen years and nine months, along with fines.

The fraudsters confessed that they "met an Indian individual on a messaging app and learned about an **online investment platform. They communicated with clients through the messaging app, enticing Indian individuals to invest in the platform with the promise of a monthly return of 8% to 15% on a 1,000 rupee investment. Once the customer's investment amount exceeded the rebate amount, they would either close the platform or convert the debt to equity, locking up the funds. They would then use a third-party payment platform to purchase 'USDT' cryptocurrency with the investment funds and exchange the cryptocurrency for renminbi or U.S. dollars."

After trial, the court found that from June 1, 2023, to January 13, 2024, in just over 7 months, 66,800 Indian individuals were deceived, with a total fraud amount of 517 million Indian rupees. The court sentenced the nine defendants to imprisonment ranging from five to fourteen years and nine months for fraud, based on their roles and positions within the criminal group, and imposed fines.