Key Points
- Zhimin Qian, also known as Yadi Zhang, denies charges of laundering Bitcoin in a London court.
- Qian allegedly defrauded 130,000 Chinese investors of $5.6 billion between 2014 and 2017.
Zhimin Qian, also referred to as Yadi Zhang, has refuted allegations of laundering Bitcoin in a court in London.
According to reports, Qian, a Chinese national, was apprehended in April and faced two counts of money laundering.
Qian’s Alleged Involvement
The UK’s Criminal Prosecution Service claims that prior to April 23, Qian had been involved in the possession and transfer of illicit cryptocurrency as part of a broader operation.
Authorities allege that Qian involved Jian Wen in her operations, who has since been sentenced to over six years in prison for her role in the money laundering scheme.
During a 2018 police raid at Wen’s residence, 61,000 Bitcoin (BTC) were discovered, now valued at over £3 billion ($4 billion).
Charges Against Qian
Investigators reportedly traced back to Qian following Wen’s arrest, leading to Qian being referred to as the “Crypto Queen.”
She is accused of swindling 130,000 Chinese investors out of $5.6 billion between 2014 and 2017. Despite these serious allegations, Qian rejects any criminal wrongdoing and intends to fight the charges.
The trial is scheduled to commence in September 2025 at Southwark Crown Court, where a co-defendant, Seng Hok Ling, has similarly pleaded not guilty to related charges.