The Bedroom Arrest of a Billion-Pound Crypto Criminal
In a dramatic conclusion to one of the UK's largest-ever financial investigations, Zhimin Qian, the mastermind behind a staggering £5.5 billion Bitcoin scam, has been sentenced to 11 years in prison. The 47-year-old, who styled herself as a 'Crypto Queen', was apprehended by police while still in bed, marking the end of a six-year international manhunt.
The Elaborate Fraud and Lavish UK Hideaway
Between 2014 and 2017, Qian orchestrated an elaborate cryptocurrency scheme through her company, Lantian Gerui, which translates to 'Blue Sky'. The operation defrauded an estimated 128,000 investors in China before she converted the illicit funds into Bitcoin and fled to the United Kingdom upon learning of an official investigation.
Once in the UK, Qian, also known as Yadi Zhang, recruited accomplices to help her establish a new life of extreme luxury. She rented a £17,333-a-month mansion in North London and embarked on extensive sightseeing trips across Europe, staying in expensive hotels in a deliberate attempt to evade capture.
Her extravagant spending included the purchase of fine jewellery and two watches valued at approximately £120,000. The court heard how she attempted to buy a £12.5 million London home, but the transaction raised suspicions with UK authorities due to her use of Bitcoin.
The International Manhunt and Eventual Capture
Qian's sophisticated evasion tactics involved carefully avoiding countries with extradition treaties with China and travelling by car to bypass customs controls. Her aspirations, as documented in seized papers, included an ambition to "become the monarch of Liberland", a self-proclaimed micronation between Croatia and Serbia.
Despite an initial police raid in 2018, Qian managed to remain at large for six years. Her downfall came in April last year when one of her accomplices was arrested, leading investigators directly to her. Footage released by the Metropolitan Police shows the moment she was finally apprehended while resting in bed.
At Southwark Crown Court, prosecutor Gillian Jones KC detailed how Qian had transferred and sold Bitcoin during her European travels to fund her luxurious lifestyle. Officers seized laptops containing millions of pounds worth of Bitcoin, though the full extent of her wealth—ultimately valued at £5.5 billion—was not immediately apparent.
Zhimin Qian ultimately pleaded guilty to money laundering offences, bringing to a close one of the most significant cryptocurrency fraud cases ever prosecuted in the United Kingdom.
