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Global Desk Following a worldwide manhunt that lasted six years, Zhimin Qian, the Chinese woman at the center of Britain’s largest money laundering investigation, was ultimately spotted while hiding beneath the sheets of an Airbnb bed in York.The 47-year-old, who had fled China in 2017 with a false Caribbean passport, defrauded almost 128,000 investors out of £5.5 billion in Bitcoin via massive Ponzi activities. Once in the UK, Qian portrayed herself as a supposed international jewellery entrepreneur, with the help of Jian Wen, a 42-year-old former takeaway worker from Leeds whom she got connected to online.Lavish Lifestyle Funded by Crypto MillionsUpon coming to Britain, Qian and Wen rented a £17,000-a-month mansion in Hampstead, North London, utilizing it as the base of a 48-week luxury spending spree in Europe. The duo laundered their cryptocurrency by buying watches, diamonds, and high-end fashion products in cities in 24 places.On one event, both spent £119,200 at Van Cleef & Arpels in Zurich, purchasing just two watches.Qian had long been on the radar of Chinese officials, initially being investigated in 2012 for participation in pyramid schemes. In her self-published 2018 manuscript with the title Six-Year Plan, she even cited about befriending a “duke from the UK” and aspiring to be the “queen of Liberland” — a micronation situated on the border between Croatia and Serbia. Instead, she stood trial in Southwark Crown Court, where she was sentenced to 11 years and eight months in jail for money-laundering, transferring, and holding criminal assets.Live EventsHer associate, Seng Hok Ling, 47, from Malaysia, was also sentenced to four years and eleven months for her participation in the huge financial operation.From Mansions to a “Purple Bedspread” ArrestOfficials became suspicious when Qian and Wen made an effort to purchase two luxury London assets, estimated at £24 million near Hampstead High Street and another £12.5 million mansion in Totteridge.In the October 31, 2018 raid, authorities discovered Qian lying in bed under a purple bedspread, pretending to be someone else. She stated to be “Yadi Zhang” and said that she suffered from severe brain and leg injuries.Inside her safe, investigators uncovered a notebook with crucial crypto wallet passkeys and laptop logins. This information led the police to a historic seizure of more than 61,000 Bitcoins worth almost £5 billion, along with £200 million in other properties.Authorities also found out that £823 million worth of Bitcoin kept on a red Dell laptop, £350 million on a black Lenovo, and £130,000 in cash alongwith foreign currency bundles.Using directions from a “treasure map” that Qian had drawn for Wen, officials recovered more hidden gadgets that had millions in cryptocurrency near Harrods in London.Final CaptureDespite these discoveries, Qian was not detained immediately and vanished shortly after, allegedly traveling in aliases and coercing her aides with exploitative contracts.Wen was eventually detained in May 2021 and sentenced for six years, but Qian continued to be a fugitive until April 22, 2024, when officials finally tracked her to an Airbnb in York. Authorities stormed the small yellow-brick house on Ryecroft Avenue, discovering her once again cowering in bed and clutching the covers, eerily resembling her initial arrest attempt six years prior. She was then charged with several money-laundering offences.Legal Statements Richard Thomas KC, defending Qian, stated that his client has “no previous convictions” and has maintained an “exemplary record” while in custody.Her lawyer, Roger Sahota, cited that she “hopes some good endures from the wealth her work created.”He further said, “Bitcoin pioneer Ms Qian, once the world’s largest female BTC holder, accepts her conviction and the mistakes that led to it. She never set out to commit fraud but recognises her investment schemes were fraudulent and misled those who trusted her. She is deeply sorry for the distress suffered by investors and hopes some good endures from the wealth her work created.”Police and Government ResponseCommander Will Lyne, head of the Metropolitan Police’s Economic and Cybercrime Command, explained the investigation as one of the “largest and most complex” ever in force history.He stated: “This outcome is the result of seven years of dedicated investigation by specialist teams from across the Met. Organised crime groups are using cryptocurrency to move, hide, and invest the profits of serious crime — but every crypto transaction leaves a trace. Our message is clear — criminal assets are not safe in the UK.”London Mayor Sadiq Khan also remarked on the operation, citing: “Cryptocurrency fraud is worth billions, fuels international money laundering, and props up organised criminal gangs, so I welcome this significant intervention by the Met.”FAQs:Who is Zhimin Qian? Zhimin Qian is a Chinese national behind Britain’s largest money-laundering scheme.How much money was involved in the fraud? Officials said more than £5.5 billion worth of Bitcoin was laundered via Qian’s schemes.Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) Read More News onBitcoin Ponzi schemeZhimin Qianmoney launderingBritain's largest fraudAirbnb arrestcrypto crimeMetropolitan Policeglobal manhuntSouthwark Crown Courtluxury spending spree (Catch all the US News, UK News, Canada News, International Breaking News Events, and Latest News Updates on The Economic Times.) Download The Economic Times News App to get Daily International News Updates....moreless (You can now subscribe to our Economic Times WhatsApp channel)Read More News onBitcoin Ponzi schemeZhimin Qianmoney launderingBritain's largest fraudAirbnb arrestcrypto crimeMetropolitan Policeglobal manhuntSouthwark Crown Courtluxury spending spree(Catch all the US News, UK News, Canada News, International Breaking News Events, and Latest News Updates on The Economic Times.) Download The Economic Times News App to get Daily International News Updates....moreless Explore More Stories123
