The man, surnamed Yang, allegedly told the victim, surnamed Wang, that there was a risk of it being purchased by someone else and offered his “cyber-squatting” services to protect it.
Yang surrendered himself to police in September last year after being tracked by officers online.
According to prosecutors, Wang received a call on November 1, 2013, from a man who claimed to be an Industry and Information Technology Ministry official.
The man told him that a domain name he had registered could be purchased by other people, and later transferred the call to an “assets and equity exchange” officer. The “officer” then recommended a company that could provide “cyber-squatting” services.
However, as a result of an internal row over how the cash was divided, one of the gang members complained to Wang that he had been conned, and, in anger, reported the matter to police.