By Digital News & Investigative Reports (CNIRBC.com)
Article Summary
A UK court sentenced Chinese “cryptoqueen” Zhimin Qian to 11 years in prison for laundering more than $6.6 billion in Bitcoin — marking one of the largest crypto crimes ever prosecuted.
💎💰 Massive Bitcoin Laundering Scheme Exposed
LONDON — A British court has sentenced Zhimin Qian, also known as Zhang Yadi, to 11 years and 8 months in prison after she pleaded guilty to laundering billions in digital assets tied to a fraudulent investment network. According to UK prosecutors, Qian’s scheme defrauded over 128,000 Chinese investors between 2014 and 2017, channeling an estimated RMB 40 billion (US $5.6 billion) into her companies before converting the proceeds into more than 61,000 BTC, now worth approximately $6.6 billion.
🌐✈️ From China to London: The Fugitive’s Trail
After the scheme unraveled, Qian fled China using a false passport and re-established herself in the United Kingdom under an assumed identity. Investigators revealed that she rented luxury apartments, purchased high-end goods, and sought to convert portions of her Bitcoin stash into tangible assets. The Metropolitan Police uncovered the cache of crypto wallets during multiple raids, seizing what they described as one of the largest single Bitcoin holdings ever linked to financial crime in Europe.
⚖️👩⚖️ Court Ruling and Asset Recovery Efforts
Judge Sally-Ann Hales condemned Qian’s actions as driven by “pure greed,” noting the lasting harm to victims. UK authorities confirmed that civil proceedings are underway to determine how the confiscated Bitcoin will be used to compensate investors who suffered losses in the multi-billion-dollar scheme.
🚨🪙 Impact on Global Crypto Crime Enforcement
Qian’s conviction marks a defining moment in cross-border crypto law enforcement, demonstrating that blockchain-based assets are not beyond legal reach. Analysts note the case reinforces London’s growing role in policing digital-asset financial crimes, signaling to fraudsters that digital wealth offers no sanctuary.
Disclaimer:
This article is for informational purposes only and does not constitute financial or investment advice.
This article was created with AI assistance and curated by DNIR Staff for accuracy and editorial standards.
Source: Digital News & Investigative Reports (DNIR) — cnirbc.com
