A CHINESE “Bitcoin Queen” behind a £5.5billion crypto scam has been jailed after she evaded cops by hiding out in luxury hotels.
Zhimin Qian, 47, masterminded a Ponzi scheme which defrauded more than 128,000 victims in between 2014 and 2017.
Zhimin Qian has finally been jailed for a Bitcoin scamCredit: AFP
She hid out in a mansion in Hampstead, North LondonCredit: Central News
Some of the money found at Qian’s homeCredit: Metropolitan Police
She stashed the money in assets then fled to the UK when she discovered the Chinese authorities were onto her.
Qian – also known as Yadi Zhang – recruited accomplices to help her “set up a new life” in Britain.
She went on sightseeing trips across Europe and stayed in lavish hotels to evade capture.
Qian also splurged on expensive jewellery – on one occasion purchasing two watches for nearly £120,000 – and rented a £17,333-a-month mansion in Hampstead, North .
She was finally captured in April 2024 after one of her accomplices was snared.
Qian has now been jailed for 11 years after she pleaded guilty to money laundering offences.
Southwark Crown heard Qian set up a fraudulent business, Lantian Gerui, which translates to Blue Sky in English, in March 2014.
More than 128,000 victims invested in the company, many of whom went on to lose “substantial sums of money”.
Qian’s fraudulent activities eventually came to the attention of Chinese authorities – prompting her to flee to the UK in September 2017.
She recruited Jian Wen to help her create a new life and “handsomely rewarded” the accomplice in return.
While hiding out, Qian rented a lavish home in Hampstead and told the estate agent she ran a successful jewellery business.
In October 2017, Wen travelled to on Qian’s request to collect a laptop on which Bitcoin was stored.
Gillian Jones KC, prosecuting, said: “Over the months and years following her arrival in the UK, Ms Qian travelled extensively throughout Europe often accompanied by Ms Wen, staying in expensive hotels and sightseeing.
“During these trips Bitcoin was transferred and sold in exchange for cash, fine jewellery bought and property in Europe considered for purchase.”
Qian recruited Jian Wen as an accompliceCredit: Central News
The pair went sightseeing across Europe to evade detectionCredit: Central News
Qian avoided countries that had extradition treaties with China and travelled predominantly by car to avoid custom checks.
On one trip, she and Wen spent £119,200 purchasing two watches at a jewellery shop in Zurich, .
In 2018, Qian attempted to purchase a £12.5million property in London but the UK authorities were notified after suspicions were raised over her Bitcoin.
An investigation was launched and visited her home to raid it.
Qian, who was found in bed by officers, claimed she was ill with a sore leg and brain injury and gave a fake name.
Police seized laptops with millions of pounds’ worth of Bitcoin contained on them but had no idea the true extent of Qian’s wealth.
They also discovered documents that featured Qian’s “aspirations and intentions”.
Ms Jones KC said: “(This) included her intention to become the monarch of Liberland, a self-proclaimed country consisting of a strip of land between Croatia and Serbia.”
Following the raid, Qian fled the country and evaded police for six years.
Her accomplice Wen was arrested in May 2021 at the Hampstead address in London and was subsequently charged with money laundering.
While her trial was ongoing, a transfer of Bitcoin was made which led the police to identify Seng Hok Ling at an address in York.
Officers visited the address in April 2024 and discovered Qian and four other individuals who were working for the mastermind by cooking and shopping while she remained “hidden away”.
Authorities found several devices at Qian’s address – including a laptop containing a wallet with £27.3million worth of Bitcoin.
The value of the Bitcoin was priced at more than £5.5 billion when Qian and Ling were convicted of the money laundering offences in September.
But it is understood that the figure is constantly changing.
Qian pleaded guilty to acquiring criminal property and possessing criminal property.
Her co-accused Ling, who arranged the rental of properties for Qian to live in, admitted transferring criminal property and was jailed for four years and 11 months.
Wen was convicted of one charge of money laundering and jailed for six years and eight months.
Will Lyne, The Met’s Head of Economic and Cybercrime Command, said: “This outcome is the result of seven years of dedicated investigation by specialist teams from across the Met.
“There is no doubt this is one of the largest and most complex economic crime investigations we have ever undertaken, and today’s sentence would not have been possible without working closely with our partners from the Crown Prosecution Service, National Crime Agency and Chinese law enforcement.
“Organised crime groups are using cryptocurrency to move, hide, and invest the profits of serious crime – but every crypto transaction leaves a trace, and the Met works meticulously with partners to follow that digital trail, identify assets and bring offenders to justice.
“Our message is clear – criminal assets are not safe in the UK. The Met remains committed to protecting the public and this outcome shows the lengths we will go to secure justice for victims.”
Accomplice Seng Hok Ling has also been jailedCredit: AFP 
