Qian Zhimin, the architect of the 402 billion yuan China Sky Blue Sharp illegal fundraising scheme, has been sentenced to 11 years and 8 months in the UK. This marks a significant development in what is considered the largest Bitcoin money laundering case in British history. British authorities have seized 61,000 Bitcoin, valued at over 5 billion pounds, believed to be linked to Qian's criminal activities in China.
A hearing to decide the fate of the seized Bitcoin has been postponed to January 2026. The case has ignited discussions on the legal and diplomatic challenges of repatriating these assets to China for victim compensation. Key issues include whether victims can claim the full value of the Bitcoin, considering its substantial appreciation over time.
UK Sentences Qian Zhimin in Record Bitcoin Laundering Case
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