Chinese citizen Qian Jimin (also known as Yadi Zhang), known as the founder of a financial pyramid scheme in Britain, has been sentenced to 11 years and 8 months in prison for fraudulently deceiving nearly 130,000 people, Sky News reports.
The 47-year-old woman fled China in 2017 with a fake passport. He attracted people through an "investment scheme" created through cryptocurrency, promising quick enrichment and high interest income. As a result, she accumulated more than 40 billion yuan (5.6 billion dollars) and called herself the "Goddess of Wealth."
During the investigation, police found 61,279 bitcoins, 300,000 pounds of cash, and documents similar to a "treasury map" at Qiang's residence. These bitcoins currently have a value exceeding $6 billion, making them the largest cryptocurrency confiscation in British history.
It turned out that Qian and his associates introduced themselves as entrepreneurs engaged in the jewelry business. They bought villas in London's most prestigious districts, thousands of pounds worth of clothes in Harrods stores, and cars like Mercedes E-Class.
Qian was arrested in April 2023 at an Airbnb home in York City. During the trial, he did not deny his guilt, but said that "he only wanted to restore investor confidence."
Judge Sally-Ann Hayles described her as "the planning and management of the crime from beginning to end." The fraudster's accomplices, Jian Wen, were sentenced to 6 years and 8 months, while Seng Hok Ling was sentenced to 4 years and 11 months.
Prosecutors stated that part of the money obtained from the fraudster was spent on jewelry worth 95 million yuan and expensive houses. Most of the victims lost all their savings, even their homes.
Currently, no decision has been made on the fate of the confiscated bitcoins and the procedure for compensation to victims.
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