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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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Lidl and Iceland ads banned under new ‘less healthy’ food rules

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Lidl and Iceland ads banned under new ‘less healthy’ food rules


Ads for supermarkets Lidl and Iceland have become the first to be banned under new rules governing “less healthy” food and drink.

The rules, which came into effect at the beginning of the year, are part of Government efforts to tackle childhood obesity by preventing ads for food and drink that is high in fat, salt and sugar (HFSS) appearing on television between 5.30am and 9pm, and online at any time.

The new ban applies to products that fall within 13 categories considered to play the most significant role in childhood obesity, including soft drinks, chocolates and sweets, pizzas and ice creams, but also breakfast cereals and porridges, sweetened bread products, and main meals and sandwiches.

Undated handout photo issued by the Advertising Standards Authority (ASA) of an Emma Kearney Lidl Instagram post. (ASA/PA Wire)

Products that fall into these categories are than also assessed as to whether they are “less healthy” based on a scoring tool that considers their nutrient levels and whether products are high in saturated fat, salt or sugar.

Only products that meet both of the two criteria are included in the restrictions.

The Advertising Standards Authority (ASA) said an Instagram post for Lidl Northern Ireland by influencer Emma Kearney featured the grocer’s cheese pretzel, which was not categorised as HFSS and therefore did not fall within the restrictions, and its Pain Suisse product, which was classified as both HFSS and a sweetened bread product and was therefore banned under the new rules.

Lidl said the ad had been removed and they had liaised with their marketing agency to ensure that all future ads complied with the new rules.

In a separate case, Iceland confirmed that two ads included a tub of Swizzles Sweet Treats, a packet of Chupa Chups Laces, a bag of Chooee Disco Stix and a bag of Haribo Elf Surprises, which were all classified as HFSS.

They also provided nutrient profile information from their supplier which confirmed that Pringles Sour Cream & Onion crisps, also included in the ads, were not an HFSS product.

Iceland’s Luxury Aberdeen Angus Beef Roasting Joint, Vegetable Spring Rolls, Sticky Chicken Skewers and Lurpak Spreadable Butter, which were also included in the ads, did not fall within the new restrictions.

(PA)

The ASA did not uphold a complaint against an Instagram post by influencer John Fisher – known to many as Big John – which featured him promoting menu items at a new German Doner Kebab outlet because the specific items shown in the ad were not classified as less healthy foods.

The watchdog also cleared a TV ad for On The Beach promoting free airport lounge access which featured a boy approaching a buffet and taking a chocolate ring doughnut.

The ASA said viewers would see the ad as showing an example of what was available in the lounge rather than for the doughnut itself, meaning it did not break the rules.

ASA chief executive Guy Parker said: “As the ad regulator, our role is to remain impartial and independent, making sure our new LHF rules, which reflect the law, are applied fairly and consistently.

“These initial rulings are an important step in building a clearer picture of how the rules are applied in reality.

“We’ll be continuing to play our role in administering and enforcing them, including by using tech-assisted proactive monitoring.”

An Iceland spokesman said: “The products highlighted were part of a bigger range in the specific display ad and were featured due to a technical fault with a data feed from a third-party supplier.

“As the ASA has pointed out, these initial rulings are helping to build a clearer picture of how the new rules are applied, following the initial confusion and debate around the regulations.”



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Crisis grants launched for struggling Bradford families

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Crisis grants launched for struggling Bradford families


At a meeting of the local authority’s executive on Tuesday, MacBeath said the scheme aimed to move beyond emergency aid by helping families become more financially “resilient”, offering advice on managing money, accessing benefits, reducing debt and finding work.



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Help to Buy mostly helped high earners, IFS says

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Help to Buy mostly helped high earners, IFS says



People with lower incomes benefitted less from the house-buying scheme than those with high incomes, the influential think tank says.



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