BlockBeats News, October 30th, the Hedong Sub-bureau of the Tianjin Public Security Bureau in China today released a notice stating that the police are currently cooperating with UK law enforcement agencies in cross-border fugitive repatriation and asset recovery, making every effort to recover the losses of participants in the fundraising scheme. The police remind investors to express their demands rationally and lawfully, be vigilant against unauthorized cross-border “asset recovery agents,” and avoid falling victim to fraud again.
Previously reported, on September 29th, the main offender of a 60,000 Bitcoin money laundering case, Qian Zhimin, pleaded guilty in the Southwark Crown Court in London, admitting to illegally obtaining and holding cryptocurrency-related crimes. Between 2014 and 2017, she led a large-scale fraud in China, defrauding over 128,000 victims and storing the proceeds in Bitcoin assets. This case involves issues such as cross-border money laundering and cryptocurrency asset recovery and is seen as a milestone test for the supervision and governance of cross-border financial crimes in the digital currency era. Qian Zhimin was accused of illegally raising approximately 43 billion yuan through Ponzi scheme-like “investment and wealth management” products through Tianjin Lantian Ge Rui Electronic Technology Co., Ltd. from 2014 to 2017, with 130,000 victims.
