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Chinese 'Cryptoqueen' Gets 11 Years for $6.6B Fraud
- On Tuesday, Zhimin Qian, 47, was sentenced to 11 years and eight months at Southwark Crown Court after admitting money laundering and possessing criminal property.
- Her firm, Lantian Gerui, ran a Ponzi scheme defrauding more than 128,000 victims across China between 2014 and 2017, and Zhimin Qian fled China to the UK in September 2017 using false documents.
- The Metropolitan Police seized more than 61,000 Bitcoins, valued over $6 billion, and found laptops containing �27.3million of Bitcoin wallets, recently .
- Prosecutors have set up a compensation scheme as thousands of Chinese victims press to recover investments that reflect Bitcoin's rise, while Jian Wen and Seng Hok Ling were jailed last year for six years eight months and four years eleven months respectively.
- The Met said the investigation involved unprecedented international cooperation with Chinese law enforcement and described it as one of the largest money‑laundering cases in UK history, noting the Bitcoin holding is currently priced at around £5 billion.
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China's "Goddess Of Wealth" Faces Jail In UK Over $6 Billion Bitcoin Scam
She lived a life of luxury that earned her the nickname "goddess of wealth", but Chinese businesswoman Zhimin Qian now faces a long jail sentence after police made the UK's largest-ever cryptocurrency seizure of Bitcoin worth over $6 billion.
·New Delhi, India
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Chinese 'cryptoqueen' who allegedly scammed thousands jailed in UK over Bitcoin stash worth $6.6 billion
Police said the investigation into Zhimin Qian, 47, led to officers recovering devices holding 61,000 Bitcoin in the largest cryptocurrency seizure in the U.K.
·New York, United States
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Total News Sources187
Leaning Left29Leaning Right25Center46Last UpdatedBias Distribution46% Center
Bias Distribution
- 46% of the sources are Center
46% Center
L 29%
C 46%
R 25%
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