Overview
- Southwark Crown Court sentenced Zhimin Qian to 11 years and eight months for laundering billions from the Lantian Gerui investment scheme.
- The Metropolitan Police say they seized more than 61,000 BTC, valued at about £5 billion during the case, in one of the UK’s largest crypto recoveries.
- Qian was arrested in York in April 2024 and pleaded guilty in September 2025, with Judge Sally-Ann Hales describing her as the scheme’s driving force.
- The Crown Prosecution Service has delayed any vesting application to allow investors to file proprietary claims under Section 281 of the Proceeds of Crime Act.
- Courts must decide ownership and valuation of restitution, including whether to use original losses or current Bitcoin prices, as associates Seng Hok Ling and Jian Wen receive prison terms.