The post Zhimin Qian sentenced to 11 years and 8 months for laundering Bitcoin from a £600 million Chinese investment fraud appeared on BitcoinEthereumNews.com.

Zhimin Qian has been sentenced to 11 years and 8 months behind bars after pleading guilty to a money laundering charge. The Met police reported that it seized over 60,000 Bitcoins from the perpetrator of the Chinese investment scam after careful investigation. Zhimin Qian, also known as Yadi Zhang, has been sentenced to 11 years and eight months in prison for her role in laundering money from a huge investment fraud that defrauded over 128,000 victims in China. The sentencing took place at Southwark Crown Court following her guilty plea to the charges of possessing illegally obtained cryptocurrency and money laundering. Chinese investment scam mastermind sentenced The Metropolitan Police described the seizure of over 60,000 Bitcoins connected to the case as the largest cryptocurrency seizure in UK history, with an estimated current value of around £4.8 billion ($6.1 billion). Qian, age 47, led a criminal operation that ran between 2014 and 2017, during which she defrauded victims of approximately £600 million ($762 million) through a fake investment scheme in China. Many victims were reported to have invested their life savings and pensions, unaware that the scheme was fraudulent. Prosecutors explained that the large amount of Bitcoin seized, along with a lack of any legitimate source for the funds, and the link to the Chinese investment scam, made it clear that the assets were obtained illegally. After the fraud, Qian converted around £20.2 million ($25.7 million) of the stolen funds into Bitcoin before fleeing to the UK. Once in Britain, she lived a lavish lifestyle and tried to use the cryptocurrency to purchase luxury properties worth millions of pounds, including houses priced at £4.5 million, £12.5 million, and £23.5 million. Qian found herself unable to complete these transactions because banks and agents flagged issues under anti-money laundering (AML) and “know your…

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Filed under: News - @ November 11, 2025 9:21 pm