Beijing OTC boss song Sizzy loses UK/US assets in scam

A recent case of Song Shijie’s execution was revealed today on September 5th, 2025. He was previously Beijing’s largest over-the-counter (OTC) margin trading boss. Caixin reports that Shijie has already handed over 200 million yuan to the UK and US authorities. This is an asset worth around US$27.5 million! Let’s take a closer look:

UK seizing London assets

The UK’s National Crime Agency (NCA) has confirmed the seizure of approximately 161 million yuan (equivalent to US$22.7 million) assets belonging to the song. These include:

• A gorgeous house in Westminster.
• Six apartments in Hendon
• UK bank account funds

Laundrying dirty money through the London real estate market is also on the regulatory radar. This case highlights how the city has become a central focus for high-value financial crimes. On the other side of the Atlantic, US authorities attacked Sizzy’s cryptocurrency assets. A March 2025 Orlando, Florida court filing explains how Song lost three Binance accounts, including US$10 million.

Links to Crypto fraud

This case is particularly interesting as it demonstrates a archaic financial fraud conference with crypto fraud. The song was involved in illegal securities trading and OTC margin lending in China. Additionally, Sizzy has also found herself caught up in a pig slaughter code fraud that has seen a massive global expansion over the past few years.

According to US statistics, investment fraud related to pig slaughter swindles caused losses of 3.9 billion in 2023, up nearly 2,000% since 2019. The fact that two-way accounts belonging to the song are frozen indicates that law enforcement can track and confiscate crypto assets related to activities related to such activities.

Why is the Sizzy case so important?

• Asset Value: This is the largest cross-border seizure of crypto-related fraud, worth more than USD 32 million in the past few years.
• International Cooperation: Additionally, joint operations with the UK NCA, the US courts and the Chinese Ministry of Public Safety all help to bring one of the very few tripartite operations against illegal financial flows to the forefront.
• Shaking the spotlight on pig slaughter: By connecting cases to fraud where victims become globally prey, regulators have shed even more light on one of the most harmful scam trends in cryptography.

This case affects regulatory trends around the world. The MICA framework has already stepped up control within the EU, with US regulators putting pressure on the exchange to improve compliance. China’s role also shows that Beijing is currently willing to work with other countries to address capital flights and illegal cryptographic activities.