Overview
- A two-day hearing at Southwark Crown Court is underway, with Qian facing up to 14 years for acquiring and possessing criminal property.
- Metropolitan Police say they traced and seized more than 61,000 Bitcoins valued above $6 billion, the largest cryptocurrency recovery reported in the UK.
- Investigators say Qian fled China on false documents, attempted to buy high-end London property, and was arrested in York in April 2024 following surveillance tied to a co-defendant.
- Related operations recovered about £11 million in cash, gold and crypto, while accomplice Jian Wen is serving six years and eight months and Seng Hok Ling has admitted money laundering with sentencing listed at the same court.
- British authorities are pursuing a victim compensation scheme in the High Court, with roughly 1,300 claimants engaged in civil proceedings.