“Goddess of Wealth” convicted in a ponzi schedule of $ 6.7 billion

After a seven -year investigation, Zhimin Qian, the self -proclaimed “Goddess of Wealth” condemned In the UK of money laundering with regard to a huge Ponzi schedule in which between 2014 and 2017 she stable $ 6.7 billion of more than 128,000 people in China. Qian was displayed himself as an advanced fintech innovator whose company, Tianjin Lantian Gui Electronic Technology Co. was presented as a leading fintech companies that offer cryptocurrency investment investments as other investment products.

The truth is that Qian had no financial or technological qualifications and her company, which promised investment returns up to 300% had no legitimate business activities, but only acted as a gigantic ponzi schedule where early investors were paid with money provided by later investors.

Although she may not have had technological and financial skills, Qian was skilled in marketing for a wide range of targeted victims, including business professionals and even members of the Chinese judiciary. Her shiny promotional material From the investments they were recommended with guaranteed investments with a high return, tailored to China’s goal to become a global leader in finance and technology. The materials also emphasized non-existent projects and partnerships. To give the impression of the government’s approval, Qian events organized for investors in the Guesthouse of Diaoyutai in Beijing, a location that is usually reserved for state leaders and foreign dignitaries.

After the implementation of the Chinese government in 2017 of important cryptocurrency instructions, including forbidding the first currency offers (ICOs) and the closure of the inland Cryptocurrency -trading platforms, left Qian China and went to the UK with the help of her slaughterers who had a fake paspport Bitcoin. Later she tried to wash the illegally won money white by purchasing real estate and other assets.

This case is a good example of why no one should ever invest in anything without investigating the investment, the company that offers the investment and the people who run the company. Moreover, nobody should invest in investment that they do not fully understand.

Of course, the promise of guaranteed profit of 300% should have been a huge red flag to generate concern with every investment. Furthermore, the marketing material of Tianjin Lantian Gui Electronic Technology Co. Never clearly explained his business model or how the company has made a profit. Everyone who investigates the company would have discovered that it was not registered with a financial regulatory body such as the China Securities Regulatory Commission. As far as Zhimin Qian is concerned, research would have shown that she had no financial or technological degrees, licenses or qualifications.

She is waiting for conviction.