In July 2018, 21 executives involved in the exchange were charged in the Kunming Intermediate People's Court with embezzlement and sabotaging financial markets. Investors were not allowed to attend the trial, and some investors were asked to leave town before the trial began. The company was fined 1 billion yuan ($149.04 million) for illegal fundraising, and Shan was sentenced to 18 years in jail for crimes including embezzlement. Shan was also fined 500,000 yuan and had 50 million yuan of his personal property confiscated. Other executives charged included Yang Guohong, the former vice president of the exchange, who was accused of illegally appropriating property.
