A woman caught with £5bn in Bitcoin in the UK’s highest ever value money laundering investigation has been jailed for 11 years and eight months – after nearly five years on the run.
Zhimin Qian, 47, sat up in bed looking stunned when police kicked open the bedroom door of an Airbnb in a York suburb on 22 April last year.
She vanished and went on the run after officers seized more than 61,000 Bitcoin in the country’s biggest cryptocurrency seizure in a raid of her rented £5m home next to Hampstead Heath.
Qian – who fled China after carrying out a huge fraud and arrived in the UK in 2017 on a false St Kitts and Nevis passport in the name of Yadi Zhang – pleaded guilty to two money laundering offences at Southwark Crown Court.
Police said she styled herself the “Goddess of Wealth” and wore imperial robes as her sales teams offered 300% returns at conferences in luxury hotels in China promoting her “Britain Nice Life Insurance” scheme.
In a slick video played to targets, the narrator says “Britain is a nation of glories and dreams” over footage of the Houses of Parliament, Oxford University, Windsor Castle, Buckingham Palace and the City of London.
Qian was already wanted in China over two other scams when she orchestrated the gigantic investment fraud, conning more than 128,000 victims from every province out of 40bn Yuan (around £4.6bn) between 2014 and 2017.
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More than 80 people have been convicted in China over the scam, but Qian converted some of the proceeds into more than 70,000 Bitcoin and fled, crossing the border into Myanmar on a moped before arriving at Heathrow Airport in September 2017.
She recruited Jian Wen, who left her job in a south London Chinese takeaway, and the women moved into a £17,000-a-month rented £5m house next to Hampstead Heath, posing as the bosses on an international jewellery business.
They travelled extensively across Europe, buying jewellery and spending tens of thousands of pounds on designer clothes and shoes in Harrods, while Wen bought a £25,000 E-Class Mercedes and sent her son to the £6,000-a-term Heathside preparatory school.
Qian made extensive notes about her “grandiose” plans to increase her social standing.
She wanted to meet a royal duke, hoped the Dalai Lama would anoint her as a reincarnated Goddess, and dreamed of ruling Liberland – an unrecognised micronation on the Croation side of the Danube – as Queen.
But the women came to the attention of police when they tried to buy a £24m seven-bedroom Hampstead mansion with a swimming pool, using more than £800,000 converted from Bitcoin.
Officers raided their home in October 2018 and seized £300,000 in cash and cheques, along with phones and laptops, and found a hand drawn “treasure map” leading from Harrods to a safety deposit box containing more devices.
When investigators finally accessed the cryptocurrency wallets stored on them, they thought someone had put the decimal point in the wrong place.
The 61,279 Bitcoin was then worth £1.4bn and has now soared to more than £5bn, making it the biggest ever cryptocurrency seizure in Britain and, until recently, the world.
Read more: How Chinese takeaway worker led police to biggest ever Bitcoin seizure
Police believed Qian had left the country, but shortly before Wen was found guilty of money laundering offences in March last year, Detective Constable Joe Ryan detected activity on a cryptocurrency exchange from a wallet linked to Qian, which hadn’t been used since 2019.
The exchange provided details of the account holder – Seng Hok Ling, a Malaysian national with a previous conviction for fraud in Hong Kong in 2015, who was living in Matlock, Derbyshire.
Working on the theory he may be in contact with Qian, detectives stepped up the manhunt, which took them all over the UK, before they identified her at a detached house in a York suburb.
When police kicked open the upstairs bedroom door, there was Qian, lying under a bright red duvet and struggling to put on her top as she stared wide eyed at officers from behind her thick glasses.
Detective Constable Chris Woods told colleagues: “It’s her.”
A ledger and passwords found sewn inside a purpose-made concealed pocket in the jogging bottoms she was wearing, led investigators to Bitcoin and other cryptocurrency worth around £67m.
Ling had helped her stay on the run, providing false documents and money laundering services, and renting Airbnb properties, including a house in Glasgow and a remote farmhouse near Loch Tay in the Scottish Highlands.
The court heard he tried to get one passport in the name of dead Hong Kong actress Dianxia Shen.
A rotating entourage of cooks, drivers and security guards were employed on lucrative contracts to look after Qian, who they assumed was a rich recluse.
They were made to sign strict confidentiality agreements, which barred them from using Chinese devices or apps and photographing, recording or videoing “anyone or anything indoors or outdoors” – with breaches resulting in dismissal and fines of up to $30,000.
Metropolitan Police officers travelled to Beijing and Tianjin to speak to victims of the fraud, some of whom had lost their life savings, seen their family collapse or been left unable to pay for medical care.
Chinese police officers were lined up to become the first in history to give evidence in a UK court, but Qian pleaded guilty on the first day of the trial, while Ling also admitted a money laundering charge.
The court heard that since being in prison Qian has had poetry published and her artwork displayed at an exhibition.
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Wen was jailed for six years and eight months last year, and the sentencing of Qian and Ling marks the end of what the Met’s head of economic and cyber crime called “one of the longest running and most complex economic crime investigations” in the force’s history.
“She lived, while she was on the run in the UK, a relatively reclusive lifestyle. She had that entourage of people around her, but she didn’t venture out much,” he said of Qian.
“And we have some understanding from some of her musings and some of thoughts around what she may do with the rest of her money and her wealth and her life ultimately.
“But thankfully, we were able to catch her and bring her to justice before some of those dreams were realised.”
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The fortune is now at the centre of a High Court battle between the UK government and thousands of Chinese victims.
Prosecutors have set up a compensation scheme but lawyers representing those who want to recover their investments say it should reflect the huge rise in the value of Bitcoin and not just what they put in.
