Former CEO Indicted for Role in Bribing Japanese Officials and BIT Mining Ltd. Resolves Foreign Bribery Investigation

An indictment was unsealed today charging the former CEO of 500.com (now BIT Mining Ltd.), Zhengming Pan, a Chinese national, with violations of the Foreign Corrupt Practices Act (FCPA). BIT Mining Ltd. has agreed to resolve investigations by the Justice Department and the Securities and Exchange Commission (SEC) into related FCPA violations arising from the company’s participation in a corrupt scheme to pay bribes to Japanese government officials.

From the U.S. Department of Justice: Read More