The head of the head of the Economic and Cyber Crime Command said that this is one of the greatest money laundering in British history.
The metropolitan police have guaranteed what is considered the world’s largest cryptocurrency inserting, with a value of more than £ 5.5 billion, equal to around $ 7.43 billion, after a seven-year investigation to international money laundering.
Zhimin Qian, 47, a Chinese national, was convicted of the Southwark Crown Court on Monday 29 September, after he had explained to the acquisition and possession of criminal ownership in the form of cryptocurrency under the proceeds of Crime Act (2002). Qian, also known as Yadi Zhang, orchestrated between 2014 and 2017 a large -scale fraud in China.
During this period, the Metropolitan Police said that Qian has cheated on more than 128,000 victims before he turns the yield in Bitcoin.
Multi -year fraud operation
The investigation was first launched in 2018 after intelligence on the transfer of criminal assets and led to the seizure of 61,000 bitcoin from Qian. After she had flown in China with the help of false documents, she entered the UK and tried to launder the illegal funds by buying real estate, reportedly with the help of an accomplice, Jian Wen.
After the conviction, Will Lyne, the head of the head of economic and cyber crime, the assignment with, said”
“The guilty plea of today marks the highlight of years of years of dedicated research by the economic crime teams of De Met and our partners. This is one of the greatest money white issues in the history of the UK and one of the highest value of cryptocurrency issues Globaal. I was extremely proud of the team. Cryptoassets Qian.”
Qian has been taken into custody and will be convicted at a later time.
Complicit also taken prisoner
As part of the broader research into international crypto-related fraud, Wen received a prison sentence last year for her participation in the scheme. Proof presented by the Economic Crime Team Van Met revealed that it helped with the relocation of a cryptocurrency wallet with 150 bitcoin, worth £ 1.7 million at that time, around $ 2.3 million.
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Southwark Crown Court sentenced her to six years and eight months in prison on 22 May 2024.
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