Chinese Fugitive Behind $6 Billion Bitcoin Fraud Faces 14 Years in UK Prison
Chinese fraudster’s empire collapses after record crypto haul.
Zhimin Qian, the 47-year-old Chinese national known as the “Goddess of Wealth,” has pleaded guilty to possessing criminal property and faces up to 14 years in prison. Operating under the alias Yadi Zhang, she will be sentenced at Southwark Crown Court following a two-day hearing commencing today. British authorities have executed the largest cryptocurrency seizure in UK history, confiscating more than 61,000 Bitcoins valued at over $6 billion—assets directly linked to Qian’s multi-year fraud operation.
Between 2014 and 2017, Qian orchestrated a large-scale Pon zi scheme in China that defrauded more than 128,000 investors. The operation relied on public seminars, fabricated claims of government backing, and promises of high returns funded by incoming capital. After converting the majority of illicit proceeds into Bitcoin, Qian fled China in 2018 using forged documents and relocated to the UK, where she attempted to launder the funds through high-value property acquisitions, including a £23 million mansion in north London.
The breakthrough came in April 2024 when Metropolitan Police surveillance of Qian’s Malaysian associate, Seng Hok Ling, led to coordinated raids. Authorities recovered 11 million euros in cash, gold, and digital assets alongside the historic Bitcoin seizure. Ling has admitted money laundering charges and awaits sentencing. A third accomplice, Jian Wen, was convicted last year and is serving a six-year-and-eight-month term for handling Bitcoin wallets containing over $2 billion in criminal proceeds.
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The human impact has been severe. One couple in their forties lost their entire retirement savings and their daughter’s support after investing in 2016. With Bitcoin’s value rising from approximately $3,600 in late 2018 to $100,000 today, the notional loss for victims has multiplied significantly. More than 1,300 claimants have registered in ongoing High Court civil proceedings as UK authorities finalise a compensation framework.
Legal experts describe the case as unprecedented in scale for an individual defendant. As restitution processes continue, the seizure and impending sentence mark a decisive blow against large-scale cryptocurrency-enabled fraud.
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