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Chinese woman convicted in UK after ‘world’s biggest’ bitcoin seizure

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Chinese woman convicted in UK after ‘world’s biggest’ bitcoin seizure


Osmond ChiaBusiness reporter, Singapore

Metropolitan Police A mugshot of Zhimin Qian, pictured staring into the camera. She has curly hair and is dressed in a grey jumper.Metropolitan Police

Zhimin Qian, also known as Yadi Zhang, was convicted on Monday

A Chinese national has been convicted of playing a key role in what is believed to be the single largest cryptocurrency seizure in the world, worth more than £5bn ($6.7bn).

Zhimin Qian, also known as Yadi Zhang, pleaded guilty on Monday at Southwark Crown Court, London of illegally acquiring and possessing the cryptocurrency.

Between 2014 and 2017, she led a large-scale scam in China by cheating more than 128,000 victims and storing the stolen funds in bitcoin assets, the Metropolitan Police said in a statement.

The Met said the 47-year-old’s guilty plea follows a seven-year probe into a global money laundering web.

The police said the probe began in 2018 after they got a tipoff about the transfer of criminal assets.

Qian had been “evading justice” for five years up to her arrest, which required a complex investigation involving multiple jurisdictions, said Detective Sergeant Isabella Grotto, who led the Met’s investigation.

She fled China using false documents and entered the UK, where she attempted to launder the stolen money by buying property, said the Met.

She had help from another Chinese national, Jian Wen. The former takeaway worker was jailed for six years and eight months last year for her part in the criminal operation.

The Met said it had seized a total of 61,000 bitcoins from Qian.

“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 Robin Weyell, deputy chief Crown prosecutor for the Crown Prosecution Service.

“This case, involving the largest cryptocurrency seizure in the UK, illustrates the scale of criminal proceeds available to those fraudsters.”

Monday’s conviction marks the “culmination of years of dedicated investigation”, which has involved the police and Chinese law enforcement teams, said Will Lyne, the Met’s Head of Economic and Cybercrime Command.

The Met said the investigation is still ongoing.

In 2024, Chinese media reported that investors, mostly between 50 and 75 years old, poured “hundreds of thousands to tens of millions” of yuan into schemes promoted Qian.

The investors reportedly knew little about Qian, who was described as “the female god of wealth”.

The Crown Prosecution Service (CPS) is working to ensure the fraudsters do not get hold of the stolen funds, the Met said.

The CPS said last year that many of the victims had some of their money returned to them by a compensation scheme established in China.

Qian is being held in custody ahead of sentencing. The date of her sentencing has yet to be fixed.

The BBC has contacted the Chinese embassy in the UK for comment.



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India’s retail sector: Market to hit $1 trillion by 2030; digital and D2C formats set to reshape traditional shopping – The Times of India

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India’s retail sector: Market to hit  trillion by 2030; digital and D2C formats set to reshape traditional shopping – The Times of India


India’s consumption landscape is gearing up for a major shift over the coming decade, with the country’s retail market expected to reach $1 trillion by 2030. A new report by venture capital firm Fireside Ventures says this surge will be fuelled by rising disposable incomes, faster digital adoption and the growth of a large aspirational consumer class.Fireside argues that the change is not just in size but in the very structure of how Indians shop. The firm notes that retail channels are seeing their “most dramatic reconfiguration yet.” According to the report, general trade—which made up over 90 per cent of retail in 2014—is projected to drop to around 70 per cent by 2030, reported news agency ANI. At the same time, modern trade, e-commerce, quick commerce and direct-to-consumer (D2C) brands are expected to accelerate sharply. D2C and quick commerce alone may account for up to 5 per cent of the total market within the decade.With shoppers increasingly embracing digital-first formats, branded retail is forecast to double and reach nearly $730 billion, which would represent almost half of all retail spending. Fireside highlights that new-age, digital-native brands are currently scaling two to three times faster than conventional companies, helped by agile distribution, data-driven product development and more personalised customer engagement.The analysis outlines several emerging consumer segments. The firm notes, “Map your audiences, and you’ll see the opportunity take the shape of many substantial markets, whether India I, the 15 per cent population driving 35 per cent of retail and 60 per cent of branded purchases; or Bharat, the larger, fast-digitising 85 per cent, hungry for new brands and experiences,” as per ANI.By 2030, India is expected to have 1.1 billion internet users and over 400 million online shoppers. Fireside describes this as the “flattest consumption opportunity” India has ever witnessed.The firm concludes that India’s next hundred iconic consumer brands will be built by founders who blend cultural insight with digital fluency—creating niche, rooted and experimental labels that resonate with a confident, modern and increasingly regional Indian shopper.





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PM-Kisan 21st Installment On November 19: Check Eligibility & Register Through QR Code

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PM-Kisan 21st Installment On November 19: Check Eligibility & Register Through QR Code


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Prime Minister Narendra Modi will release the 21st PM Kisan installment on November 19, 2025, benefiting over 9 crore farmers.

PM Kisan 21st Installment Date Announced

PM Kisan 21st Installment Date Announced

PM Kisan 21st Installment Date On November 19: Prime Minister Narendra Modi is set to release the 21st installment of Pradhan Mantri Kisan Samman Nidhi (PM Kisan) scheme on Wednesday, November 19, 2025 at 2:00 PM. Over 9 crore PM-Kisan beneficiaries will be benefited by this transfer.

The Centre has already disbursed the 21st installment to farmers of Jammu and Kashmir following the devastating floods. According to the official notification, a total of Rs 170 crore was transferred to 8.5 lakh farmers of Jammu and Kashmir on October 07, 2025.

Under the PM Kisan scheme, eligible farmers get Rs 2,000 every four months, which is Rs 6,000 annually. The money is provided each year in three instalments — April-July, August-November and December-March. The fund is directly transferred to the bank accounts of the beneficiaries.

Farmers, however, need to register and update their e-KYC to be eligible for the next tranche in the scheme.

PM Kisan Scheme e-KYC

To receive the installments, the farmers need to complete their e-KYC. According to the scheme’s official website, “eKYC is MANDATORY for PMKISAN Registered Farmers. OTP-based eKYC is available on the PMKISAN Portal, or the nearest CSC centres may be contacted for Biometric-based eKYC”.

PM Kisan Scheme: How To Check Status If You Are A Registered Farmer?

Farmers who have registered themselves through the CSC centres or online can check their approval status by following these steps:

1. Visit PM Kisan’s official portal — pmkisan.gov.in

2. Click ‘Status of Self Registered Farmer/CSC Farmers’ in the FARMERS CORNER section on the homepage.

3. Enter your Aadhaar number and filling in the captcha to verify your status.

Who Is Eligible for PM Kisan?

To qualify for the PM Kisan’s 21th installment, one must:

  • Be a citizen of India
  • Own cultivable land
  • Be a small or marginal farmer
  • Not be a pensioner receiving Rs 10,000 or more per month
  • Not have filed income tax
  • Not be an institutional landholder.

PM-Kisan: How To Register Via QR Code

New registrations can be done online via the official portal or offline through Common Service Centres (CSCs).

Farmers can scan the QR code in the X post to register for the scheme.

Varun Yadav

Varun Yadav

Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More

Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More

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TCS layoffs 2025: Pune Labour Commissioner Summons IT Company Over Illegal Termination Complaints

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TCS layoffs 2025: Pune Labour Commissioner Summons IT Company Over Illegal Termination Complaints


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The Labour Commissioner Office in Pune has summoned Tata Consultancy Services over NITES complaints of illegal termination and layoffs, with a hearing set for 18 November 2025.

TCS layoffs: Unfair Practices Alleged; Labour Commissioner Issues Summons

TCS Layoffs 2025: The Labour Commissioner Office in Pune has issued summons to Tata Consultancy Services (TCS) in several cases filed by the Nascent Information Technology Employees Senate (NITES) ranging from ‘illegal termination of employment’ and ‘unlawful layoffs’. The hearing is scheduled for 18 November 2025.

What Led To The Summons?

NITES in the X post informed that it has received a large number of complaints from TCS employees across various locations regarding abrupt terminations, forced resignations, denial of statutory dues, and coercive employment practices.

“After reviewing the grievances and supporting documents, NITES assisted the affected employees in filing formal complaints before the competent authority,” NITES added in the post.

NITES Urges Affected Employees To Come Forward

The organization also pleaded employees who have faced similar issues to come forward and asset their rights. “If you have experienced wrongful termination, forced resignation, non-payment of dues, or any form of pressure or unfair treatment, you have legal protections available,” it added in the X post.

NITES said that it is committed to supporting IT and ITES employees who require guidance or assistance in filing complaints or understanding available legal remedies.

TCS Announces 2% Layoff

Earlier, TCS announced that it would layoff 2 per cent of its employees in this financial year 2025-26 globally, roughly 12,000 employees.

TCS headcount dropped 19,755 in the second quarter of FY26. With the latest reduction, TCS’ total headcount stands at 6,13,069, the company said in its earnings release on October 9. This comes after the company added 5,090 employees sequentially in the previous June quarter.

This marks the second straight year of workforce contraction for TCS, following its first-ever headcount decline in FY24 since listing in 2004. In contrast, the company added 22,600 employees in FY23 and a record 1.03 lakh employees in FY22, reflecting the scale of its earlier expansion.

Varun Yadav

Varun Yadav

Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More

Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More

Follow News18 on Google. Join the fun, play QIK games on News18. Stay updated with all the latest business news, including market trendsstock updatestax, IPO, banking finance, real estate, savings and investments. To Get in-depth analysis, expert opinions, and real-time updates. Also Download the News18 App to stay updated.
News business TCS layoffs 2025: Pune Labour Commissioner Summons IT Company Over Illegal Termination Complaints
Disclaimer: Comments reflect users’ views, not News18’s. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.

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