Core Viewpoint - The article discusses the sentencing of Qian Zhimin, the main suspect in a major illegal fundraising case involving Tianjin Lantian Ge Rui Company, who was sentenced to 11 years and 8 months in prison for her role in a large-scale Bitcoin money laundering scheme that defrauded over 128,000 victims, with total cryptocurrency value exceeding £5.5 billion (approximately 514.5 billion RMB) [1][6][12]. Group 1 - Qian Zhimin was sentenced to 11 years and 8 months in prison for illegally raising public deposits and money laundering [1][6]. - The case involved over 128,000 victims, with the total value of seized cryptocurrencies exceeding £5.5 billion (approximately 514.5 billion RMB) [6][12]. - Qian Zhimin lived a lavish lifestyle in Europe after illegally obtaining funds, including purchasing expensive jewelry and luxury watches [8][12]. Group 2 - The investigation into Tianjin Lantian Ge Rui Company began in April 2017, leading to Qian Zhimin's escape to the UK [5][9]. - Qian was arrested in April 2022 after nearly six years on the run, during which she attempted to use Bitcoin to purchase a £23.5 million (approximately 2.2 billion RMB) mansion [9][12]. - The UK authorities are considering compensation plans for the victims, many of whom lost their life savings due to the fraud [12][13].

Core Viewpoint - The article discusses the sentencing of Qian Zhimin, the main perpetrator of the Tianjin Lantian Ge Rui illegal fundraising case, who was sentenced to 11 years and 8 months in prison in the UK for one of the largest Bitcoin money laundering cases in history [2]. Group 1: Case Background - The Tianjin Lantian Ge Rui Electronic Technology Co., Ltd. was investigated for illegal fundraising, with Qian Zhimin as the main suspect who fled to the UK [5][7]. - The case dates back to 2014-2017, during which Qian Zhimin sold high-yield investment products to over 128,000 Chinese investors, promising returns of 100% to 300%, accumulating illegal fundraising of 43 billion RMB [11]. - After the investment scheme collapsed in 2017, Qian converted the illegal proceeds into 61,000 Bitcoins and escaped to the UK using a fake passport [11]. Group 2: Legal Proceedings - Qian Zhimin was arrested in April 2024 after nearly six years on the run, and in September 2025, he admitted to charges related to money laundering involving Bitcoin [9][12]. - The London Southwark Court revealed Qian's extravagant lifestyle, including purchasing expensive jewelry and luxury watches, which drew the attention of UK authorities [9]. - The UK police had previously frozen the 61,000 Bitcoins, marking it as one of the largest seizures of cryptocurrency by law enforcement [11].

Core Points - The main suspect, Qian Zhimin, was sentenced to 11 years and 8 months in prison for illegal fundraising and money laundering involving over 12.8 million victims and more than £5.5 billion (approximately ¥514.5 billion) in cryptocurrency [1][6][10] - The case is noted as one of the largest cryptocurrency-related frauds globally, with significant implications for victims who lost their life savings [10][12] Group 1: Legal Proceedings - Qian Zhimin was arrested in London after fleeing to Europe, where she lived a lavish lifestyle funded by illegal activities [1][8] - The court proceedings revealed her attempts to purchase a £23.5 million (approximately ¥22 million) mansion using Bitcoin, which raised police suspicions [8][10] - The UK authorities are considering compensation plans for the victims, with some expressing a desire to receive Bitcoin as restitution [12] Group 2: Victim Impact - Over 128,000 individuals were defrauded in this scheme, leading to severe emotional and financial distress for many victims, including vulnerable groups [6][12] - Victims have reported losing their life savings, with some families experiencing significant breakdowns due to the financial losses incurred [12]

Core Points - The main suspect, Qian Zhimin, was sentenced to 11 years and 8 months in prison for illegal fundraising and money laundering involving over 12.8 million victims and more than £5.5 billion (approximately ¥514.5 billion) in cryptocurrency [1][6][15] - Qian used the illegally raised funds to purchase 61,000 bitcoins and lived extravagantly in Europe before being arrested in the UK [1][6][11] Group 1: Legal Proceedings - Qian Zhimin was arrested in London on April 2022 and pleaded guilty to money laundering charges in September 2023 [1][5][6] - The case is noted as one of the largest cryptocurrency-related fraud cases globally, with significant implications for victims [6][14] - The UK authorities are considering compensation schemes for the victims, many of whom lost their life savings [15] Group 2: Victim Impact - Over 128,000 individuals were defrauded, with many victims being elderly or vulnerable [6][15] - Victims expressed a desire to reclaim their losses, with some requesting to receive the frozen bitcoins [15] - The emotional and financial toll on victims has been profound, leading to family breakdowns and significant distress [15] Group 3: Criminal Activities - Qian attempted to purchase a £23.5 million (approximately ¥22 million) mansion using bitcoins, which drew police attention due to the unclear source of funds [11] - The investigation revealed that Qian had been on the run since 2017, using a fake identity and attempting to evade capture [10][11] - The case highlights the challenges of tracing and recovering assets in cryptocurrency-related crimes [14][15]

Core Points - The case involves Qian Zhimin, a businesswoman who fled to the UK with nearly 50 billion yuan worth of Bitcoin and has pleaded guilty in what is described as the largest Bitcoin money laundering case in the UK [1][3] Group 1: Background of the Case - In April 2017, the Tianjin Public Security Bureau initiated an investigation into Tianjin Lantian Ge Rui Company for illegal public deposit absorption, with Qian Zhimin as the main suspect who subsequently fled to the UK [3] - International cooperation between Chinese and UK law enforcement agencies was established to pursue Qian Zhimin for her alleged crimes [3] Group 2: Criminal Activities - Qian Zhimin used illegally raised funds to purchase 61,000 Bitcoins, which were later frozen by UK authorities when she attempted to buy luxury real estate in 2018 [3] - After nearly six years on the run, Qian Zhimin was arrested in April of the previous year [3] Group 3: Lifestyle and Sentencing - During a sentencing hearing on October 10 in London, details of Qian Zhimin's extravagant lifestyle were revealed, including expensive jewelry purchases and a £120,000 expenditure on luxury watches [3] - Prosecutor Gillian Jones noted that Qian Zhimin traveled extensively across Europe and frequently stayed in high-end hotels after arriving in the UK [3]

Core Viewpoint - The case of Qian Zhimin, the main perpetrator of the Tianjin Blue Sky Ge Rui illegal fundraising case and the largest Bitcoin money laundering case in UK history, has resulted in an 11-year and 8-month prison sentence after her guilty plea in court [1][5][7]. Group 1: Case Background - The Tianjin Blue Sky Ge Rui Electronic Technology Co., Ltd. was investigated for illegal public fundraising starting April 21, 2017, with Qian Zhimin fleeing to the UK [2]. - Over 128,000 victims were defrauded in this case, involving 61,000 Bitcoins, equivalent to approximately 49.35 billion RMB [5][7]. - Qian Zhimin used forged documents to escape China and attempted to launder money through real estate purchases in the UK [7][8]. Group 2: Legal Proceedings - Qian Zhimin was arrested in her bed in the UK, showing signs of panic during the capture [1]. - She admitted to the charges of money laundering during her court appearance on September 29, 2025, in London [5][7]. - The case has been under investigation for seven years, with another co-defendant, Jian Wen, sentenced to 6 years and 8 months [7]. Group 3: Victim Impact - A representative from Fieldfisher law firm stated that many victims lost their life savings, particularly affecting elderly and vulnerable groups [8]. - Victims have expressed concerns over the handling of the frozen Bitcoins, asserting that the UK government has no right to dispose of these assets [8]. - One victim reported that the fraud led to a marriage breakdown, highlighting the personal toll of the scam [8].

Core Points - A significant money laundering case in the UK has resulted in a record sentence, with a 47-year-old Chinese woman, Qian Zhimin, sentenced to 11 years and 8 months for laundering money through Bitcoin, involving 61,000 Bitcoins valued at nearly £5 billion (approximately 46.8 billion RMB) [1] - Qian Zhimin was implicated in a Ponzi scheme in China and utilized Bitcoin to transfer criminal proceeds [1] - Her accomplice, Lin Chengfu, received a sentence of 4 years and 11 months [1] - The UK prosecution is considering a compensation scheme for victims defrauded in China [1]

Core Points - The main perpetrator of the Tianjin Blue Sky Greit illegal fundraising case, Qian Zhimin, was sentenced to 11 years and 8 months in prison in the UK for his role in one of the largest Bitcoin money laundering cases in British history [2][3] - The illegal fundraising scheme involved 43 billion RMB and affected 128,000 victims, primarily elderly retirees from across China [2][3] - Qian Zhimin attempted to launder money through real estate and luxury purchases in Europe, including a failed attempt to buy a £23.5 million mansion using Bitcoin [2][3] Group 1 - Qian Zhimin admitted to charges related to money laundering and asset misappropriation in September [2] - The case has led to significant law enforcement actions in the UK, including the freezing of 61,000 Bitcoins, marking the largest seizure in the country [3] - The UK Financial Conduct Authority has intensified efforts to combat money laundering through cryptocurrency [2][3] Group 2 - Victims of the Blue Sky Greit case are facing challenges in cross-border debt recovery and the complexities of virtual currency ownership [4] - Legal representatives have submitted civil recovery applications to the UK High Court on behalf of creditors [4] - The Tianjin Public Security Bureau is collaborating with UK law enforcement to recover losses for participants in the fundraising scheme [4]

Core Points - The case involves Zhimin Qian, the main suspect in a significant illegal fundraising scheme in Tianjin, China, who has been apprehended in the UK for money laundering charges related to Bitcoin [1][3][5] - Over 128,000 victims were defrauded, with the total amount involved exceeding 61,000 Bitcoins, equivalent to approximately 49.35 billion RMB [3][5] - The investigation has been ongoing for seven years, highlighting the complexity and international nature of the case [5][6] Group 1: Case Background - The Tianjin Blue Sky Ge Rui Electronic Technology Co., Ltd. was investigated for illegal public deposit collection starting from April 21, 2017, with Qian fleeing to the UK [1] - Qian was found to have used a fake passport to escape and was in possession of a laptop containing a cryptocurrency wallet with illegally obtained assets [10] - The case is noted as one of the largest cryptocurrency-related frauds globally, with significant implications for organized crime and asset concealment [7] Group 2: Legal Proceedings - Qian appeared in court on September 29, 2023, where she admitted to the charges of money laundering involving Bitcoin [3][6] - The UK authorities are expected to initiate asset forfeiture proceedings following Qian's guilty plea, with a trial expected to last 12 weeks [10] - Many victims from China are set to testify via video link in the ongoing legal process [10]

Core Points - A 47-year-old Chinese woman, Qian Zhimin, pleaded guilty in a UK court for being the mastermind behind a massive fraud scheme that lasted 13 years and involved over 43 billion yuan globally [2][12] - The fraud scheme included significant investments in Bitcoin, which appreciated to nearly 50 billion yuan by the time of her arrest [2][25] Group 1: Fraud Scheme Details - Qian Zhimin was involved in a Ponzi scheme that defrauded investors of 402 billion yuan from 2014 to 2017, with total fraudulent amounts exceeding 430 billion yuan [18][20] - She used 11.4 billion yuan of the defrauded funds to purchase Bitcoin, which remained untouched and appreciated significantly over the years [20][25] - The scheme was characterized by high promised returns, with some projects claiming returns of 100% to 300% [16][18] Group 2: Legal Proceedings and Consequences - In 2021, Qian Zhimin fled to the UK, where she later employed a Chinese assistant, Wen Jian, to help manage her affairs and launder money [23][25] - Wen Jian was arrested for laundering 150 Bitcoins, leading to the discovery of 61,000 Bitcoins valued at hundreds of billions [4][10][25] - The UK authorities have frozen the assets, and victims are allowed to initiate recovery processes, but the appreciation of the assets complicates the restitution [25][27][29] Group 3: Broader Implications - The case highlights the risks associated with high-return investment schemes, emphasizing the need for vigilance among investors [32] - The potential for the UK to benefit financially from the situation raises questions about international cooperation in asset recovery [29][31]