Cryptoqueen who fled China for London mansion to be sentenced over £5B Bitcoin
11 days ago
- #Fraud
- #Cryptocurrency
- #Money Laundering
- Qian Zhimin, known as the 'Cryptoqueen', is to be sentenced for laundering billions in Bitcoin stolen from Chinese pensioners.
- She fled China to a mansion in London, where police seized one of the largest cryptocurrency stashes in UK history.
- Her company, Lantian Gerui, promised high returns but was a Ponzi scheme, defrauding over 100,000 investors across China.
- Investors were lured with daily payouts and patriotic appeals, with some losing life savings and facing personal tragedies.
- Qian's lavish lifestyle included plans to buy a Swedish castle and become 'queen' of the unrecognized microstate Liberland.
- After her arrest, Qian pleaded guilty to illegally acquiring cryptocurrency, offering victims hope for partial restitution.
- A UK civil case will decide the fate of the seized Bitcoin, with potential compensation for defrauded investors.
- The case highlights the global reach of cryptocurrency scams and the devastating impact on vulnerable investors.