Chinese citizen Zhimin Qian pleaded guilty in a UK court on Monday to acquire and owning a shy 61,000 bitcoin criminal property worth just $7 billion.
The conviction follows a seven-year investigation into international money laundering and it is discovered that Qian, who also attends Yadi Chang, organized a massive fraudulent investment scheme that stolen 128,000 people.
“Today’s guilty plea represents the culmination of years of dedicated investigations by Met’s economic crime team and our partners,” Will Lyne, head of Economic and Cybercrime Command at Met, said in a statement.
“This is one of the biggest money laundering cases in UK history and one of the most valuable cryptocurrency cases around the world,” he added, “I am extremely proud of my team.”
Qian implemented a scheme between 2014 and 2017, scamming individuals and ultimately converting illegally acquired funds into Bitcoin. In 2018, she fled China and enrolled in the UK on false documents, and later tried to wash her money with the help of her property purchase and co-conspirator Jian Wen.
I was able to grab the Met 61,000 bitcoins between 2018 and 2021 It is currently known as the world’s largest code attack. Wen was like that He was convicted of money laundering last year.was ordered to pay more than $3 million for her role. She was sentenced to more than six years in prison.
A civil lawsuit for the recovered funds is currently underway, but a UK-based legal partner recently reported Decryption For Chinese investors, making a legitimate and unique claim to funds would be “a considerable challenge.”
“Bitcoin and other cryptocurrencies are increasingly being used by organized criminals to disguise and transfer assets, so fraudsters can enjoy the benefits of their criminal conduct,” Deputy Director Robin Weiel, deputy director of prosecutors, said in a statement.
“CPS is working closely with law enforcement and investigative authorities to lead criminal proceeds from cryptocurrency fraud to individuals and businesses who wash their criminal proceeds,” she added.
Qian will be taken into custody and sentenced later following her guilty plea.
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