Zhimin Qian, 47, tricked over 128,000 people in China and tried to hide stolen cryptocurrency in the UK.
UK courts convicted Qian of leading a Bitcoin scam connected to the world’s largest crypto seizure, worth £5.5 billion.
Also called Yadi Zhang, Qian admitted at Southwark Crown Court to unlawfully acquiring and holding cryptocurrency.
Escape and Laundering Efforts
Police said her guilty plea followed a seven-year international money laundering investigation.
From 2014 to 2017, Qian ran a huge fraud in China, converting victims’ money into Bitcoin assets.
She fled China using fake documents and entered the UK, attempting to launder the funds by buying property in 2018.
Authorities seized 61,000 Bitcoins from Qian, marking one of the UK’s largest crypto asset seizures.
Legal Actions and Warnings
Will Lyne, head of economic and cybercrime command, called the case one of the highest-value cryptocurrency cases worldwide.
Authorities previously jailed 43-year-old Jian Wen for six years and eight months for helping Qian commit fraud.
Courts will sentence Qian at a later date.
Robin Weyell of the Crown Prosecution Service warned criminals increasingly use cryptocurrencies to hide and move wealth.
She confirmed the CPS will block fraudsters from reclaiming stolen assets through confiscation and civil procedures.
