"She was remanded in custody ahead of sentencing, which is scheduled for a later date. The case stems from one of the largest cryptocurrency seizures ever, with British police confiscating over 61,000 BTC, currently valued at approximately £5.1 billion ($6.7 billion). The funds were allegedly connected to a massive Chinese investment fraud that defrauded around 128,000 victims between 2014 and 2017."
"Qian reportedly fled China after the collapse of her company, Tianjin Lantian Gerui Electronic Technology Co., following China's 2017 crypto crackdown. She attempted to launder the proceeds in the UK through property purchases, aided by an accomplice, Jian Wen, who was previously jailed for facilitating the movement of 150 BTC. Met Police officials hailed Qian's guilty plea as the result of years of complex, cross-border investigation. Detective Sergeant Isabella Grotto, who led the inquiry, noted that the case involved painstaking evidence collection across multiple jurisdictions."
Qian Zhimin, also known as Zhang Yadi, pleaded guilty in London to possessing and transferring criminal property under the Proceeds of Crime Act 2002 and was remanded pending sentencing. British police seized over 61,000 BTC—valued at roughly £5.1 billion ($6.7 billion) or nearly $7 billion at current prices—allegedly linked to a Chinese investment fraud that defrauded about 128,000 victims between 2014 and 2017. Qian reportedly fled China after the collapse of Tianjin Lantian Gerui Electronic Technology Co. and attempted to launder funds in the UK via property purchases with an accomplice. The investigation involved complex cross-border evidence collection and faces prosecution challenges due to jurisdictional and extradition issues. The trial is scheduled to last 12 weeks with Chinese police and remote victim testimony.
Read at Bitcoin Magazine
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