BlockBeats News, September 30th, according to the BBC, the mastermind of a 60,000 Bitcoin money laundering case, Qian Zhimin, pleaded guilty yesterday at 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. Qian Zhimin had been “evading justice” for five years before her arrest, using fake documents to flee China and enter the UK, attempting to launder stolen funds by purchasing real estate. Qian Zhimin is currently in custody awaiting sentencing, with the sentencing date yet to be determined.
Yesterday, Chinese investigating officers had already traveled to London to testify in court, and several Chinese victims will testify via video link from a court in Tianjin, China. This case involves issues such as cross-border money laundering, crypto asset recovery, and is seen as a milestone test in the digital currency era for cross-border financial crime supervision and governance. Qian Zhimin is accused of illegally raising approximately 43 billion yuan through a Ponzi scheme-like “investment financial management” product via Tianjin Lantian Gerui Electronic Technology Co., Ltd. between 2014 and 2017, with 130,000 victims.
