London Court Delivers 11-Year Sentence to Chinese National in UK’s Largest BTC Laundering Case
A 47-year-old Chinese national, Zhimin Qian, has been sentenced to 11 years and 8 months in Southwark Crown Court, London, for her role in what authorities describe as the UK’s largest cryptocurrency laundering case. Qian, also known as Yadi Zhang, admitted to acquiring and possessing criminal property in the form of cryptocurrency under the UK’s Proceeds of Crime Act per .
Between 2014 and 2017, Qian operated an investment scheme through her Chinese company, Lantian Gerui, which targeted over 128,000 investors and raised approximately RMB 40 billion (around $5.6 billion).
A significant portion of these funds was siphoned off and moved through complex cryptocurrency transactions. UK authorities ultimately seized nahead 61,000 BTCs, marking one of the largest crypto asset recoveries in the country.
Qian fled China in 2017, traveling through Southeast Asia before entering the UK on a St Kitts & Nevis passport under a false identity. She rented luxury accommodations in London and attempted to convert the crypto funds into tangible assets, including property.
Authorities arrested her in York in April 2024 later than searches in London revealed digital wallets and secure-deposit boxes containing the BTCs.
In court, Judge Sally-Ann Hales described the case as “unprecedented,” saying,
“Zhimin Qian, you were the architect of this offending from its inception to its conclusion. The scale of your money laundering is unprecedented. Your motive was one of pure greed.”
Her accomplices also faced convictions. Seng Hok Ling was sentenced to 4 years and 11 months for assisting in laundering funds, while Jian Wen, a former quick-food worker, received a six-year term for assisting manage and move assets.
The court emphasized the unprecedented scale of Qian’s laundering activities. With the value of the seized crypto having appreciated significantly since confiscation, legal questions remain regarding compensation for the defrauded investors.
Global Crackdown on BTC And Crypto Crimes
Beyond the UK, cryptocurrency crimes are increasingly drawing international attention. China recently accused the U.S. of that saw 127,000 BTCs—worth around $13 billion today—stolen from the LuBian mining pool, alleging the funds were funneled through U.S.-controlled wallets.
In Australia, former rugby league star with transferring roughly AUD $140,000 from another individual’s crypto account into his own, highlighting that even high-profile individuals are not immune from scrutiny.
Meanwhile, Thai authorities over $50 million in cryptocurrencies into physical gold for a fraud syndicate, demonstrating how digital assets continue to be exploited for cross-border money laundering.
