Zhimin Qian, 47, scammed over 128,000 people in China and tried to launder the funds through UK real estate.
UK courts convicted Qian for leading a Bitcoin fraud linked to a £5.5 billion cryptocurrency seizure.
Also known as Yadi Zhang, Qian admitted at Southwark Crown Court that she illegally acquired and held cryptocurrency.
International Escape and Money Laundering
Police reported her guilty plea followed a seven-year investigation into global money laundering.
Between 2014 and 2017, Qian ran an extensive fraud scheme in China, stealing money from more than 128,000 victims.
She converted the stolen funds into Bitcoin, then fled China with forged documents and entered the UK.
In late 2018, Qian tried to hide her illegal gains by buying property in the UK.
Authorities confiscated 61,000 Bitcoins from her, marking one of the largest seizures in UK history.
Legal Consequences and Warnings
Will Lyne, head of economic and cybercrime command, called this case one of the world’s highest-value cryptocurrency crimes.
Jian Wen, 43, previously convicted for helping Qian, received six years and eight months in prison.
Courts will sentence Qian at a future date.
Robin Weyell of the Crown Prosecution Service warned criminals increasingly exploit cryptocurrencies to hide and move assets.
She confirmed the CPS will use criminal confiscation and civil actions to prevent fraudsters from reclaiming stolen wealth.
