Bitcoin Magazine Chinese ‘Bitcoin Queen’ Ponzi Mastermind Jailed in UK for Over 11 Years

A Chinese woman who orchestrated a multibillion-dollar Ponzi scheme and laundered much of the proceeds into cryptocurrency was jailed in the United Kingdom on Tuesday for 11 years and eight months, according to Reuters reporting.

Zhimin Qian, 47, nicknamed the “goddess of wealth,” admitted to two charges of acquiring and possessing criminal property.

Qian ran the Lantian Gerui investment company between 2014 and 2017, defrauding around 128,000 investors in China of roughly 40 billion renminbi ($5.62 billion). Prosecutors said about 6 billion renminbi ($845 million) was siphoned off and converted into bitcoin.

During the course of a multiyear investigation, British authorities seized over 61,000 bit

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