"Qian, a Chinese national, defrauded more than 128,000 victims between 2014 and 2017 through a Ponzi scheme in China. She then fled to the UK as an international fugitive. She had stored the illegally obtained funds in Bitcoin assets and spent years evading UK police by sightseeing across Europe, staying in upmarket hotels, and living a life of luxury, Southwark Crown Court heard."
"Qian, also known as Yadi Zhang, was eventually arrested in 2024 after spending nearly six years at large. Her accomplice Seng Hok Ling, 47, was sentenced at the same court to four years and 11 months in prison. He had earlier pleaded guilty to one count of transferring criminal property. When Qian and Ling were convicted in September, the value of the Bitcoin was priced at more than 5.5bn, according to Metropolitan Police officers."
Zhimin Qian received an 11 years and eight months prison sentence after pleading guilty to money laundering and possessing and transferring criminal property. She orchestrated a Ponzi scheme that defrauded over 128,000 victims in China between 2014 and 2017 and fled to the UK in September 2017. Qian stored the illicit proceeds in Bitcoin, prompting the Metropolitan Police’s largest-ever cryptocurrency seizure valued at more than 5bn, currently around 5bn. Qian travelled across Europe, lived lavishly, rented a Hampstead property with monthly rent of 17,333, and recruited accomplices including Jian Wen and Seng Hok Ling, who was sentenced to four years and eleven months.
Read at www.independent.co.uk
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