Overview
- Qian, 47, who pleaded guilty on September 29 to acquiring and possessing criminal property, is being sentenced in a two-day hearing at Southwark Crown Court and faces up to 14 years in prison.
- London police recovered more than 61,000 Bitcoins, valued at over $6 billion at current rates, in what they believe is the largest cryptocurrency seizure in history.
- Authorities say the China-based scheme ran from 2014 to 2017, drew in more than 128,000 victims, and involved Qian using the alias Yadi Zhang.
- Investigators say she fled to the UK using false documents, attempted to launder funds through luxury real estate including a £23 million London mansion, and was arrested in April 2024 after surveillance of a co-defendant; cash, gold, and crypto worth £11 million were seized.
- Co-defendant Jian Wen was previously jailed for six years and eight months, Malaysian national Seng Hok Ling has admitted money laundering and awaits sentencing, and a proposed victim-compensation scheme is being litigated in the High Court with about 1,300 alleged victims identified so far.