Chinese citizen pleads guilty in the world's largest Crypto Assets case involving $7.4 billion

[Chain News] PANews reported on September 30 that Chinese citizen Qian Zhimin played a key role in the largest single case of crypto asset seizure globally, with the seized crypto assets valued at over £5.5 billion (approximately $7.4 billion). On Monday, she pleaded guilty to the crime of illegally obtaining and holding crypto assets at Southwark Crown Court in London. The Metropolitan Police stated that from 2014 to 2017, Qian Zhimin defrauded over 128,000 victims in China, storing the proceeds in Bitcoin. This guilty plea is the result of a seven-year investigation into a global Money Laundering network by the police. The lead investigator indicated that she evaded justice for five years, and the case involves multiple jurisdictions, making the investigation complex. Qian Zhimin fled to the UK using forged documents, attempting to buy property to launder money, and was assisted by another Chinese citizen, Jian Wen, who was sentenced to six years and eight months for crimes last year. The UK Crown Prosecution Service stated that this case demonstrates the enormous scale of criminal proceeds. This conviction is the result of years of investigation, and the prosecution is working to prevent fraudsters from accessing the proceeds. Many victims have recovered part of their funds through China's compensation scheme. Qian Zhimin is currently in custody awaiting trial, with sentencing dates yet to be determined.