The British Court issued a verdict in the case regarding the largest seizure of cryptily in history. Zhimin Qian, also known as Yadi Zhang, was found guilty before the court in Southwark (London) after she admitted that she had illegally gained and owned the crypto valuable more than $ 5 billion ($ 6.7 billion).
Fraud with thousands of victims
According to the London Metropolitan Police, Qian (47) was between 2014. and 2017. led a mass fraud in China, deceiving more than 128,000 people. She assured the victims to invest in high-profit projects, promising daily dividends and “safe profits.” The actual background was a classic fraud in which investor funds were redirected in Bitcoin. During that period, Qian hid 61.000 bitcoin, which today is one of the greatest crypto-assets ever seized within the criminal proceedings.
Escaping and attempting to launder money
Once the scam was discovered, Qian escaped from China using false documents and hid in the UK. There, according to the police, tried to wash money by buying luxury real estate. In the action, Jian Wen (44), Workers from the Chinese restaurant, which helped a money laundering.
Wen was sentenced to six years and eight months in prison for his role last year. During the process, it was discovered that it was over the restaurant in which she worked to a luxury villa in north London, and bought two real estate in Dubai worth more than half a million pounds. The police seized her and cryptolates worth £ 300 million.
Investigation that lasts for years
The Metropolitan police emphasizes that it is one of the most complex investigations in recent decades. The operation began in 2018. years after the report on the transfer of suspicious assets and lasted for almost seven years, with cooperation with the Chinese authorities.
“Qian avoided justice for years, and her arrest and recognition were the investigation that took place in several countries and covered the entire network of money laundering,” said Detektivka Isabella Grotto, which led the investigation.
“Goddess of wealth” and naive investors
Chinese media report that Qian enjoyed almost cult status at the time of scam. Investors called her “the goddess of wealth,”, and many invested in her project on the neighborhood of family and friends. According to the writing of the magazine LifeWeekInvestors – mostly older than 50 and 75 – they gave hundreds of thousands to a few million yuan, believing they invest in the future of the Chinese financial and technological industry. Business people, banking officers, and even members of the judiciary, were among the cheats.
Prosecution Message
The British Prosecution emphasizes that this case is a sample example of how organized crime uses crypts for concealment and transfer of huge property. “Bitcoin and other cryptolates are increasingly using fraudsters to cover up the origin of the property. This verdict, in the United Kingdom, shows the proportions of such activities,” said the Deputy Prosecutor Robin Weyell.
Although part of the money has already been irretrievably lost, the Chinese authorities have established the victim compensation fund, so many investors managed to return part of their investments. British authorities are working to prevent refunds by fraudsters, while the Metropolitan Police continues the investigation against others involved in the network.
Zhimin Qian is currently in custody, and the date of emergence of the judgment is yet to be scheduled.
(Type / Source: federal.ba/bbc/Foto: Metropolitan shelves)
