Zhimin Qian, 47, tricked more than 128,000 people in China and tried to hide stolen cryptocurrency through UK property.
UK courts convicted Qian for a central role in Bitcoin fraud linked to a £5.5 billion cryptocurrency seizure.
Also known as Yadi Zhang, Qian admitted at Southwark Crown Court to illegally acquiring and possessing Bitcoin.
Seven Years of Investigation
Police reported that investigators spent seven years tracing Qian’s international money laundering activities.
Between 2014 and 2017, she ran a large-scale fraud in China, converting victims’ money into Bitcoin assets.
She escaped China using false documents and entered the UK, then tried to launder her illegal gains by buying property in 2018.
The Metropolitan Police confiscated 61,000 Bitcoins from Qian, marking one of the largest cryptocurrency seizures worldwide.
Legal Consequences and Warnings
Will Lyne, head of economic and cybercrime command, called this case among the highest-value global cryptocurrency crimes.
Authorities previously convicted 43-year-old Jian Wen for assisting Qian and sentenced her to six years and eight months in prison.
Courts will determine Qian’s sentence at a later date.
Robin Weyell of the Crown Prosecution Service warned that criminals increasingly use cryptocurrencies to disguise and transfer assets.
She confirmed that the CPS will block fraudsters from regaining criminal assets through confiscation and civil actions.
