Chinese Woman Pleads Guilty Over World’s Largest Crypto Scam

The 'Goddess of Wealth' fled to the UK after allegedly defrauding approximately 128,000 investors in China.

Published: 9/30/2025, 11:49:02 AM EDT

Chinese Woman Pleads Guilty Over World’s Largest Crypto Scam — Representation of cryptocurrency Bitcoin in this illustration taken on Nov. 29, 2021. (Dado Ruvic/Reuters)

A billionaire Chinese woman, known as the “Goddess of Wealth” in China, was convicted in London after a seven-year fraud investigation, resulting in what is regarded as the world’s largest single cryptocurrency seizure.

Qian Zhimin, also known as Yadi Zhang, aged 47, fled to the UK after allegedly defrauding approximately 128,000 investors in China, and pleaded guilty on Monday at Southwark Crown Court to illegally acquiring and possessing cryptocurrency.

The Metropolitan Police reported seizing 61,000 Bitcoin, valued at nearly $7 billion at current market rates.

Will Lyne, The Met’s Head of Economic and Cybercrime Command, said this case is “one of the largest money laundering cases in UK history and among the highest-value cryptocurrency cases globally.”

Detective Sergeant Isabella Grotto, who spearheaded the Metropolitan Police's investigation, said that Qian had been "evading justice" for five years until her arrest.

Qian hired a Chinese takeaway worker named Jian Wen in the UK to assist with money laundering and housekeeping. Last year, Wen was sentenced to six years and eight months in prison for her involvement in these criminal activities.

The Met said it seized more than £300 million worth of bitcoin from Wen.

Earlier this year, the UK Crown Prosecution Service (CPS) announced that 42-year-old Wen has been ordered to pay back more than £3.1 million or face extra time in jail.

"Bitcoin and other cryptocurrencies are increasingly being used by organised criminals to disguise and transfer assets, so that fraudsters may enjoy the benefits of their criminal conduct," said Deputy Chief Crown Prosecutor Robin Weyell.

Lantian Gerui Scheme

The funds originated from a fraud case involving Tianjin Lantian Gerui Electronic Technology Company, where the mastermind, Qian, allegedly defrauded approximately 130,000 investors in China between 2014 and 2017.

Lantian Gerui’s better-known operations lured investors with promises of high returns and concepts such as ensuring “three generations of wealth.”

The company offered various so-called short-term investment and wealth management products, rapidly establishing dozens of branches across China through a multi-level marketing structure. Most victims were elderly individuals, many of whom were stripped of their life savings.

The Ponzi scheme operated for three years. In late July 2017, Lantian Gerui issued a notice halting dividend payments, citing a financial system upgrade. By then, Qian had converted the illicit proceeds into Bitcoin, secured multiple new identities, and was preparing to flee.

The question of how the 61,000 Bitcoin seized by the UK police will be handled has become a focal point of public attention.

The Bitcoin seized in the Qian case by Scotland Yard in 2018 has skyrocketed in value, and as of Sept. 30 stood at around $6.9 billion.

The CPS’s notice invited victims to register claims for restitution via a civil recovery process (POCA Part 5) on Sept. 18, 2024.

CPS's official “Notice to Victims of the Lantian Gerui Fraud,” saying the property freezing order was made under proceedings of crime law in December 2023 and “will remain in force, prohibiting the dissipation of the property, until the conclusion of the civil recovery proceedings or until further order of the High Court."

NTD contacted the Chinese embassy in the UK for comment.