The woman was the linchpin in what’s thought to be the largest single cryptocurrency seizure in history
Picture:
Met
A Chinese national has been convicted of her role in what’s believed to be the single largest cryptocurrency seizure in history totalling more than £5bn ($6.7bn).
Zhimin Qian, 47, was convicted on Monday for her leading role in the multibillion-pound fraud scheme.
The Met Police arrested Qian following a seven-year ongoing investigation into a global money laundering web.
Between 2014 and 2017, Qian led a large-scale scam in China by cheating more than 128,000 victims and storing the stolen funds in bitcoin assets, the Metropolitan Police said in a statement.
A total of 61,000 bitcoins were seized from Qian, the Met said.
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The force said the probe began in 2018 after they received a tipoff about the transfer of criminal assets.
Qian, of no fixed address, was jailed after the force’s Economic Crime team uncovered the international money laundering operation.
Picture:
Met
Appearing at Southwark Crown Court on Monday, Qian pleaded guilty to acquiring criminal property, namely crypto-currency, and possessing criminal property, namely crypto-currency,
“Today’s guilty plea marks the culmination of years of dedicated investigation by the Met’s Economic Crime teams and our partners,” Will Lyne, The Met’s Head of Economic and Cybercrime Command, said.
“This is one of the largest money laundering cases in UK history and among the highest-value cryptocurrency cases globally. I am extremely proud of the team.
“Through a meticulous investigation and unprecedented cooperation with Chinese law enforcement, we were able to obtain compelling evidence of the criminal origins of the cryptoassets Qian attempted to launder in the UK.
“My thoughts are with the thousands of victims defrauded in this scheme, and I hope today’s outcome acknowledges the harm Qian inflicted and reinforces the Met’s unwavering commitment to justice.”
Last year, as part of the same investigation led by the Met’s specialist economic crime officers, Jian Wen was also jailed for her role in the criminal operation.
Met investigators proved she had been involved in facilitating the movement of a cryptocurrency wallet, which contained 150 Bitcoin.
At the relevant time this was valued at £1.7million.She was sentenced to six years and eight months’ imprisonment at Southwark Crown Court on Wednesday, 22 May 2024.
Detective Sergeant Isabella Grotto, who led the Met’s investigation, added: “Today marks the result of years of painstaking work.
“When our team located Zhimin Qian, she had been evading justice for five years, and her arrest triggered a complex investigation requiring evidence from multiple jurisdictions and the careful review of thousands of documents.
“I am immensely proud of the investigation team and our partners who have worked tirelessly on this case.
“Today’s plea reflects years of hard work across both the UK and China. We are grateful for the support of the National Crime Agency and the Crown Prosecution Service, and to Chinese law enforcement teams in Tianjin and Beijing with whom we have collaborated throughout.”
