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A criminal has been incarcerated for masterminding a enormous financial deception that resulted in the largest virtual currency seizure in British records, comprising bitcoin priced at over £5.5 billion.

Ponzi Scheme Victimizing Numerous Mainland Participants

The defendant, mid-forties, defrauded over 128,000 victims in China through a complex investment scam before escaping to the United Kingdom as an global runaway.

According to judicial testimony, she had stored the wrongfully gained assets in bitcoin investments and spent considerable time dodging British authorities while journeying across Europe, lodging in luxury hotels and enjoying a lavish lifestyle.

Court Case and Punishment

The individual from China, also known as Yadi Zhang, was detained last year after being nearly six years evading capture.

On Tuesday, she received a prison term of 11 years and eight months after earlier admitting money laundering violations and transferring and possessing criminal property, namely cryptocurrency.

Her accomplice, forty-seven-year-old Seng Hok Ling, was punished to four years and 11 months after pleading guilty to handling proceeds of crime.

Significant Bitcoin Confiscation

When Qian and Ling were found guilty in September, the value of the cryptocurrency was estimated at over £5.5 billion, according to police officers. The present price is about £5 billion, making it the largest cryptocurrency confiscation in UK records.

Deceptive Enterprise and Cross-border Escape

Court testimony indicated that Qian had swindled over 128,000 investors between 2014 and 2017 through her company, Lantian Gerui.

She finally attracted the attention of Mainland government, leading to her to escape and appear in the UK in September 2017.

Luxurious Living in the Capital

Qian enlisted an partner, Jian Wen, to assist her set up a different life in London.

She began renting a luxurious property in Hampstead, having told an estate agent that she managed a profitable jewellery business. The monthly rent was £17,333, the court was told.

In the months and years that followed, Qian journeyed widely throughout Europe, staying in expensive hotels and touring.

During these excursions, "Bitcoin was moved and sold in return for cash, fine jewellery was bought and property in Europe was contemplated for purchase."

Investigation and Apprehension

In 2018, Qian attempted to buy a £12.5 million property in London, and after doubts were voiced regarding her bitcoin holdings, UK authorities were informed.

Law enforcement attended her Hampstead property to carry out a search warrant in October of that year.

Qian offered the fictitious name of Yadi Zhang, and at this stage, the police did not know her actual identity.

The court heard that for nearly six years, Qian managed to evade arrest and continued unapprehended.

Wen was detained in May 2021 at the Hampstead residence and was subsequently charged with money laundering. During her trial, a transaction of bitcoin occurred that directed police to identify Seng Hok Ling at an property in York.

Police visited the location in April 2024 and located Qian. Authorities located several electronic items, including a laptop holding a cryptocurrency wallet with several million pounds worth of bitcoin. Qian was arrested and accused with money laundering violations.

Legal Statements

Representing Qian, legal representative stated that his client had no previous convictions and had kept an "outstanding record" while in custody.

Defending Ling, legal representative argued that the Malaysian national did not understand the full extent of Qian's illegal activities and referred to her as the "boss lady" in the enterprise.

She added: "This was a secondary role for Mr Ling."