“You’re under arrest. It’s for money laundering,” they told her. Those were perhaps some of Qian Zhimin’s last words as she found herself taken into custody, suspected of laundering vast sums of money through cryptocurrencies.
Just 47 years old, Ms. Chen, often dubbed the “goddess of wealth,” led a life of luxury, thanks to her money laundering schemes alongside her alleged accomplice, 47-year-old Malaysian national Hoku Seng Lin. Chen hails from China.
Back in October 2018, the authorities raided her mansion in Hampstead, London—a move prompted by her attempt to purchase yet another property valued at over $16 million. During the investigation, police discovered a laptop, stacks of cash, and an oddly labeled “treasure map.” This map simply outlined two streets and referred to them as the “Metropolitan Vault.”
In 2022, another laptop was taken from a safe, reportedly holding cryptocurrencies worth billions of British pounds.
Chen allegedly spent six years evading capture while jetting around Europe, indulging in extravagant living, and investing in high-end real estate. By the time she was arrested in April 2024, her Bitcoin holdings were estimated at over $7 billion. She had previously acquired several million-dollar properties in north London and other luxury homes in Dubai.
The two suspects are accused of scamming more than 128,000 individuals in China from 2014 to 2017 before Qian fled abroad. Cheng entered the UK using forged documents, where he funneled laundered money through a real estate business, according to law enforcement.
When they appeared in London’s Southwark Crown Court, Mr. Chen received a prison sentence of 11 years and 8 months, while Mr. Lin was given 4 years and 11 months behind bars.
Another accomplice, Jian Wen, was also arrested; he reportedly had a Bitcoin wallet valued in the billions and was previously sentenced to over six years in prison.
News reports suggest that the illegally acquired bitcoins represent one of the largest cryptocurrency seizures in history, all orchestrated by just three individuals.
Lin pleaded guilty to involvement in the money laundering scheme, while Chen acknowledged laundering activities, admitting she knew there could be illicit gains involved. The Metropolitan Police noted that this case is not only potentially the largest cryptocurrency-related case but also one of the biggest money laundering operations in British history.
In a statement, Will Lyne, the Metropolitan Police’s commander of economic and cybercrime, expressed their commitment to justice and extended thoughts to the numerous victims affected by the fraud.
