Zhimin Qian, a 47-year-old Chinese fraudster, orchestrated a staggering £5.5 billion Bitcoin scam that defrauded over 128,000 victims in China between 2014 and 2017. A court hearing revealed that Qian, also known as Yadi Zhang, evaded British authorities for years while living a life of luxury across Europe. She was arrested in April 2024 after nearly six years on the run.

Qian's fraudulent scheme involved a Ponzi-style investment operation, which she ran through a company named Lantian Gerui, translating to "Blue Sky" in English. The scheme came to light when Chinese authorities began investigating her activities, prompting her to flee to the UK in September 2017. Upon her arrival, she quickly recruited accomplices to help her establish a new life.

During her time in the UK, Qian lived extravagantly, renting a lavish property in Hampstead for £17,333 a month. She was known to travel extensively throughout Europe, often accompanied by her accomplice Jian Wen. The pair stayed in upscale hotels and purchased expensive items, including two watches worth nearly £120,000 in Zurich.

Prosecutor Gillian Jones KC detailed how Qian was careful to avoid countries with extradition treaties with China, often travelling by car to evade customs checks. In 2018, she attempted to buy a £12.5 million property in London, which raised suspicions about the source of her funds and ultimately led to an investigation by UK authorities.

In October 2018, police executed a search warrant at Qian's Hampstead home, where they discovered laptops containing millions of pounds' worth of Bitcoin. At that time, Qian was found in bed, claiming illness, and provided a false name. Despite the evidence, she managed to evade arrest and fled the country shortly after the police raid.

Qian was finally apprehended in York in April 2024, where she was found living with several individuals who were assisting her. Authorities uncovered a laptop containing a cryptocurrency wallet with £27.3 million in Bitcoin. Qian has pleaded guilty to acquiring and possessing criminal property, while her accomplice Seng Hok Ling has also pleaded guilty to transferring criminal property.

The sentencing for Qian and Ling is ongoing, with Qian facing significant prison time for her role in one of the largest cryptocurrency frauds in history. The investigation has highlighted the extensive efforts of UK police and their collaboration with Chinese law enforcement to bring Qian to justice. Meanwhile, the victims of her scheme continue to seek restitution from the seized assets.