A Chinese woman, described as a “super villain,” has been sentenced to nearly 12 years in prison for orchestrating a multibillion-dollar investment fraud aimed at acquiring bitcoin. Qian Zhimin, also known by the alias Yadi Zhang, was handed an 11-year and 8-month prison sentence by a judge at Southwark Crown Court in London. She had pleaded guilty in August to charges related to the possession and transaction of criminal property.
Qian’s criminal activities began in China, from where she managed to escape arrest by fleeing on a moped to the Myanmar border. She traveled extensively through Southeast Asia and Europe, using various fake passports before ultimately settling in the UK. Her arrest followed the largest seizure of bitcoin in British police history, currently valued at approximately $6.4 billion.
During the proceedings, prosecutors detailed Qian’s lavish lifestyle, which included renting luxurious mansions and engaging in elaborate schemes, including a plan to establish herself as the ruler of a self-proclaimed nation called ‘Liberland.’ Her assistant, Seng Hok Ling, 47, was sentenced to 4 years and 11 months in prison for his involvement in facilitating Qian’s dealings with criminal funds, although his lawyer argued that he was not aware of her fraudulent activities.
Judge Sally-Ann Hales noted the unprecedented scale of money laundering associated with Qian’s actions, emphasizing the deceitful nature of her schemes that served only to enrich herself. The case also highlighted the immense potential for recovery, as a UK government agency is now working on returning the seized 61,000 bitcoin to the victims of the fraud. This landmark seizure took place in 2018 during an extensive money laundering investigation, marking a significant moment in the fight against cryptocurrency-related crime.
