Xiao Yi, a former local official in Ordos, Inner Mongolia, was sentenced to life in prison and had all of his personal property confiscated on Tuesday for accepting bribes worth approximately US $20 million.
Yi was found guilty of accepting bribes from bitcoin mining companies in exchange for granting them licenses and other benefits. He is the first Chinese official to be sentenced to life in prison for accepting bribes related to bitcoin mining.
The case against Yi was brought by the Chinese government’s anti-corruption agency, the Central Commission for Discipline Inspection. The agency said that Yi had abused his power and “seriously damaged the image of the party and government.”
Plagued by allegations of corruption
Yi’s case is a sign that the Chinese government is cracking down on corruption in the bitcoin mining industry. The industry has been plagued by allegations of corruption, with some companies accused of bribing officials to gain favorable treatment.
The crackdown on corruption in the bitcoin mining industry is part of a broader crackdown on corruption in China. The Chinese government has been waging a war on corruption for several years, and it has jailed thousands of officials for corruption offenses.
The case against Yi is a reminder that the Chinese government is serious about fighting corruption, even in the bitcoin mining industry. It is also a warning to other officials who may be tempted to accept bribes.