The United Kingdom Metropolitan Police announced that two people have been sentenced for their central role in a millionaire fraud that culminated in the seizure of more than 61,000 units of Bitcoin (BTC), considered the greatest confiscation of cryptocurrencies in history.
He said that Hok Seng Ling, a 46 -year -old man resident in the English town of Derbyshire, declared himself guilty on Tuesday to transfer cryptoactives considered criminal goods under the Law of Products of the Crime (2002). This happened in the Southwark Crown Court.
He also reported that Zhimin Qian, a 47 -year -old woman without fixed domicile, declared himself guilty on Monday, in the same court, of crimes under said law in regards to having acquired and maintained cryptoactives of illicit origin.
According to the statement, Qian, also known as Yadi Zhang, had played an outstanding role in the scam, and the researchers worked to build a case of evidence against him.
The condemnation is the result of International investigation that lasted for seven years.
According to the investigation, between 2014 and 2017, Qian led in China A fraudulent scheme that harmed more than 128,000 peoplewhose losses were converted into bitcoin. Then he fled the country using false documents and settled in the United Kingdom, where he tried to wash the funds through the purchase of properties.
Qian and Ling They were arrested in April 2024occasion in which encrypted devices, cash, gold and cryptocurrencies valued at 11 million pounds were seized – I think more than 15.3 million dollars.
The magnitude of the case was highlighted by Will Lyne, head of the Economic and Cyber Crime Unit of the Metropolitan Police, who said that it is about One of the largest money laundering processes in the history of the United Kingdom.
For its part, Sergeant Isabella Grotto, responsible for the investigation, indicated that Qian managed to stay fugitive for five years Before being finally located in Scotland and, later, in the city of York, England.
Meanwhile, the British Security Ministry and the Prosecutor’s Office of the Corona They stood out The relevance of the conviction, warning that “bitcoin and cryptocurrencies are increasingly used by organized crime to hide assets.”
The authorities assured that they will continue with civil and criminal actions to ensure that the funds obtained illegally remain out of the reach of the defendants.
According to the United Kingdom Metropolitan Police, the case is not limited to Qian and Ling. In 2024, Jian Wen, Another collaborator of the Network was sentenced to six years and eight months in prison for facilitating the transfer of a purse with 150 BTC, then valued at 1.7 million pounds – 2,36 million US dollars.
The definitive penalties for Qian and Ling will be known next November, when the Southwark court dictates the corresponding sentence.
This case reflects an international pattern: authorities from various countries are using cryptocurrencies as a key tool to track and block funds related to organized crime. As Cryptonotics reported, a recent example took place in the United States, in July, when 10 million dollars were confiscated in cryptoactives associated with the Sinaloa Cartel, as part of operations aimed at weakening the finances of Mexican criminal groups.