SHE lived a life of luxury that earned her the nickname “goddess of wealth”, but businesswoman Qian Zhimin now faces a long jail sentence after police made the UK’s largest-ever cryptocurrency seizure of Bitcoin worth over US$6bil (RM25bil).
The 47-year-old, who used the alias Yadi Zhang, defrauded more than 128,000 victims through a scheme in China from 2014-17 and stored the illegally obtained funds in Bitcoin assets.
Qian played a leading role in the scam.
After fleeing China in 2018 using false documents, she came to the UK where she attempted to launder the proceeds, according to police and prosecutors. She faces up to 14 years in prison.
Qian, who pleaded guilty to acquiring and possessing criminal property on Sept 29, will be sentenced after a two-day hearing at London’s Southwark Crown Court.
A Malaysian accomplice, Ling Seng Hok, also 47, admitted to money laundering at the same court earlier and is also due to be sentenced.
Another accomplice, Wen Jian, was jailed for six years and eight months over her role in the scheme last year after being found with Bitcoin wallets worth over US$2bil (RM8.34bil).
Qian is believed to have coordinated a Ponzi scheme, which pays out to investors using funds from new entrants.
After converting a large portion of her victims’ money into Bitcoin, she set about laundering the funds in the UK through property purchases including a £23mil (RM126.3mil) London mansion.
Police surveillance of Qian’s co-defendant Ling led to her arrest in April 2024, and cash, gold and cryptocurrencies totalling £11 million (RM60.4mil) were seized.
Before the arrest, London police made what they believe to be the largest cryptocurrency seizure in history: more than 61,000 Bitcoins, worth over US$6bil at current rates. — AFP
