Zhimin Qian, a Chinese national involved in a massive Ponzi scheme, is facing up to 14 years in prison following her guilty plea in late September. UK authorities seized over 61,000 BTC from Qian, marking the largest cryptocurrency seizure in the country's history. The scam defrauded more than 128,000 victims, primarily targeting senior citizens and middle-aged savers with false promises of high returns.
Qian fled China in 2017 using fake documents and orchestrated a fraud and laundering operation that amassed over $6 billion in crypto assets. The UK police's successful raid highlights the significant scale of the operation and the international efforts to combat cryptocurrency-related crimes.
Chinese Scammer Zhimin Qian Sentenced to 14 Years After $6B Bitcoin Seizure
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