Fraudster Sentenced, Bitcoin Fortune Uncertain
Update: 2025-11-11
Description
Zhimin Qian, a Chinese fraudster, was sentenced to eleven years and eight months in prison for orchestrating a vast pyramid scheme that defrauded over one hundred and twenty thousand Chinese pensioners. Her company, Lantian Gerui, promised high returns from high-tech health products and cryptocurrency mining ventures. Qian, who also used the name Yadi Zhang, fled China in two thousand seventeen and lived a lavish lifestyle until her arrest in the UK in April two thousand twenty-four. During a raid on her mansion, police discovered sixty-one thousand Bitcoin, now valued at approximately six point four billion dollars. Qian used patriotism and poetry to win over her victims, even featuring the son-in-law of Chairman Mao at one of her events.
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