A Chinese woman pleaded guilty to bitcoin money laundering charges on the first day of her trial in a UK court.
According to Reuters, the woman, Qian Zhimin (47 years old), also known as Zhang Yadi (transliteration), faced bitcoin money laundering charges related to a fraud case involving 5 billion pounds (8.6 billion Singapore dollars).
Qian Zhimin appeared in a UK court on Monday (September 29th) local time. She pleaded guilty to one count of possessing criminal property and one count of transferring criminal property in court.
The judge remanded Qian Zhimin in custody until sentencing.
Qian Zhimin was arrested after the UK police launched an investigation. The UK police seized a wallet containing more than 61,000 bitcoins, which are currently worth 5.1 billion pounds. This is one of the largest cryptocurrency cases seized by law enforcement agencies globally.
Qian Zhimin was arrested last year, and her lawyer said in a statement that she denied the fraud charges against her in China.
Qian Zhimin is the main culprit in the Lantian Gerui illegal deposit-taking case investigated by the Chinese police in 2017, according to a report by Jiemian News in China. The case involved 43 billion yuan (7.7 billion Singapore dollars), and 126,000 Chinese investors were involved.
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