Zhimin Qian, a Chinese woman also identified as Yadi Zhang, has pleaded innocent to laundering over $2.5 billion worth of Bitcoin at a London court. A Bloomberg report noted that She was arrested in April and charged with two counts of money laundering.
Charged Alongside Co-Defendant
The Criminal Prosecution Service alleges that Qian possessed and transferred illegal crypto on or before April 23. Seng Hok Ling, a co-defendant, also pleaded innocent to entering into a money laundering arrangement while knowing or suspecting it was criminal property.
Qian’s lawyers stated, “Ms. Zhang denies all allegations of criminal conduct and intends to vigorously contest this case.” Her trial, alongside Ling, is scheduled to begin on September 29, 2025, at Southwark Crown Court.
Not the First Case
Interestingly, another crime partner, Jian Wen, was found guilty of laundering funds for Qian and managing over £2 billion ($2.5 billion) in BTC. Wen acted as a front person for Qian and helped convert Bitcoin into cash, property, and luxury items to disguise the true source of the funds.
During Wen’s case, Qian escaped and was accused of making $6 billion in BTC by scamming Chinese nationals. Her scheme involved creating ten investment platforms managed through seven offices across China. Over 130,000 investors were lured in with promises of high returns, unaware of Qian’s true intentions.
Qian entered the UK in 2017 under the false identity of Yadi Zhang, left again in 2020, and was on the loose until April 2024, when the law’s long arms finally caught up with her.
Meanwhile, Qian’s accomplice, Wen, has been sentenced to 6 years in prison and started her jail term in May 2024.
What if Found Guilty?
Enhanced sentencing could apply if Qian and her co-defendant are found guilty of money laundering. This is usually the case if they had prior convictions, laundered large sums, or used sophisticated methods. Enhanced sentencing aims to prevent future offenses, protect society from harmful individuals, and reflect the severity of the crime.
Possible outcomes of enhanced sentencing for Qian include longer prison sentences, heavier fines, stricter probation, or forfeiture of assets or property. The court will consider the specific circumstances and applicable laws to determine if enhanced sentencing is warranted.
Leave a Reply