Qian Zhimin was convicted in the UK for his role in a Bitcoin scam involving approximately $7.4 billion.

PANews reported on September 30th that, according to the BBC, Chinese citizen Qian Zhimin played a key role in the world's largest single cryptocurrency seizure, involving over £5.5 billion (approximately $7.4 billion). She pleaded guilty at London's Southwark Crown Court on Monday to illegally obtaining and possessing cryptocurrency. The Metropolitan Police stated that Qian Zhimin defrauded over 128,000 victims in China between 2014 and 2017, storing the proceeds in Bitcoin. The guilty plea was the culmination of a seven-year investigation into a global money laundering network. The head of the investigation stated that Qian Zhimin had evaded justice for five years, and the case involved multiple jurisdictions, making the investigation complex. Qian Zhimin fled to the UK using forged documents and attempted to launder the proceeds by buying a property. She was assisted by another Chinese citizen, Jian Wen, who was sentenced last year to six years and eight months for the crimes. The UK Crown Prosecution Service stated that the case highlights the enormous scale of the criminal proceeds. The conviction was the culmination of a multi-year investigation, during which prosecutors worked to prevent the fraudsters from accessing the proceeds. Many victims have already received partial redemption through compensation programs in China. Qian Zhimin is currently in custody awaiting trial, and a sentencing date has not yet been set.