$7.43 Billion in Bitcoin Seized as Chinese Fraudster Finally Convicted in UK
The Metropolitan Police have secured what is believed to be the world’s largest cryptocurrency seizure, valued at more than £5.5 billion, equivalent to approximately $7.43 billion, following a seven-year investigation into international money laundering.
Zhimin Qian, 47, a Chinese national, was convicted at Southwark Crown Court on Monday, 29th September, after pleading guilty to acquiring and possessing criminal property in the form of cryptocurrency under the Proceeds of Crime Act (2002). Qian, also known as Yadi Zhang, orchestrated a large-scale fraud in China between 2014 and 2017.
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UK Crypto Ban Lifted, But Retail Investors Still Can’t Buy – What’s the Holdup?
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$7.43 Billion in Bitcoin Seized as Chinese Fraudster Finally Convicted in UK
The Metropolitan Police have secured what is believed to be the world’s largest cryptocurrency seizure, valued at more than £5.5 billion, equivalent to approximately $7.43 billion, following a seven-year investigation into international money laundering.
Zhimin Qian, 47, a Chinese national, was convicted at Southwark Crown Court on Monday, 29th September, after pleading guilty to acquiring and possessing criminal property in the form of cryptocurrency under the Proceeds of Crime Act (2002). Qian, also known as Yadi Zhang, orchestrated a large-scale fraud in China between 2014 and 2017.
Read More
UK Crypto Ban Lifted, But Retail Investors Still Can’t Buy – What’s the Holdup?