Chinese woman sentenced to 11 years in prison in Britain after $6 billion worth of bitcoins were seized from her

47-year-old Chinese citizen Zhimin Qian, known under the pseudonym Yadi Zhang, was sentenced by a London court to 11 years and 8 months in prison for fraud and laundering funds transferred to cryptocurrency.

Qian pleaded guilty to organizing a fraudulent investment scheme that operated in China from 2014 to 2017. Her company Lantian Gerui raised money under the guise of investments in biotechnology and mining, deceiving more than 120,000 people, mostly pensioners.

After the collapse of the pyramid, she escaped from China on a moped, passed through Myanmar, and then hid in Asia and Europe using fake passports. In the UK, Qian settled under an assumed name and led a luxurious lifestyle — she rented luxury real estate, bought jewelry and objects in Dubai.

In 2018, the UK police seized 61,000 bitcoins associated with Qian, which is more than $6.3 billion at the current exchange rate. This was the largest cryptocurrency confiscation in the country's history.

During the investigation, which lasted seven years, the police found devices with keys to crypto wallets, cash and jewelry. Judge Sally-Ann Hales called the scale of the crime "unprecedented."

Qian's accomplices were also convicted: Jian Wen received six years in prison, and Seng Hok Ling — almost five years. The court decides whether to send the seized bitcoins to compensate the victims or transfer them to the British government.