Zhimin Qian, 47, tricked over 128,000 people in China and converted their money into Bitcoin.
UK courts convicted her for a leading role in the world’s largest cryptocurrency seizure, worth £5.5 billion.
Also called Yadi Zhang, Qian admitted at Southwark Crown Court to illegally acquiring and holding Bitcoin.
Fraud and Escape
Police said her guilty plea followed a seven-year investigation into global money laundering.
Between 2014 and 2017, Qian orchestrated a large-scale fraud in China, targeting more than 128,000 victims.
She fled China using false documents and entered the UK.
Authorities reported she tried to launder her stolen funds by buying property in late 2018.
The Metropolitan Police seized 61,000 Bitcoins from Qian, marking one of the UK’s largest financial seizures.
Legal Actions and Warnings
Will Lyne, head of economic and cybercrime command, called this one of the UK’s biggest money laundering cases.
Another Chinese woman, Jian Wen, 43, received six years and eight months for her role in the fraud.
Courts will sentence Qian at a later date.
Robin Weyell, deputy chief crown prosecutor, warned criminals increasingly use cryptocurrencies to hide and move assets.
She said the CPS will prevent fraudsters from regaining illegal assets through confiscation and civil proceedings.
