A Chinese woman has admitted her role in concealing bitcoin linked to a massive $6.7 billion fraud scheme, during a hearing at Southwark Crown Court, London.
The defendant, Qian Zhimin, also known as Zhang Yadi and sometimes referred to as the “goddess of wealth”, changed her plea to guilty on the opening day of her trial.
The 47-year-old confessed to two charges: possession of criminal property and transferring criminal property. While she has now admitted to the UK offenses, her legal team previously maintained—following her arrest last year—that she denied involvement in fraud allegations brought against her in China.
UK prosecutors, backed by civil recovery proceedings, are working to ensure that the seized cryptocurrency remains out of reach of the fraudsters. Authorities say the move is critical to protect victims and prevent illicit funds from being reabsorbed into criminal networks.
The case has drawn widespread attention, with observers noting it could send a strong message on accountability and the global effort to curb cryptocurrency-related financial crimes.
Report by: Kendrick Ovie | Edited by: Chris Odjomah