Goddess of Wealth' Zhimin Qian Awaits Sentence After $6.7B Crypto Scam
Zhimin Qian, dubbed the 'Goddess of Wealth', has left a trail of devastation after defrauding over 128,000 people in China. Qian, who is awaiting sentencing, promised unrealistic returns and targeted various groups, including business professionals and Chinese judiciary members. The Metropolitan Police in the UK have ordered her arrest in connection with money laundering charges.
Qian, who portrayed herself as a fintech innovator, had no financial or technological qualifications. She stole a staggering $6.7 billion between 2014 and 2017, using glossy promotional materials and hosting events at the Diaoyutai State Guesthouse to create an illusion of legitimacy. Her company, Tianjin Lantian Gerui Electronic Technology Co., was a Ponzi scheme with no legitimate business operations.
After Chinese cryptocurrency regulations in 2017, Qian fled the country with victims' funds converted to Bitcoin. She attempted to launder the stolen money through real estate purchases and other assets. Qian's crimes have resulted in significant losses for her victims, highlighting the importance of thorough research before investing in any company or individual.
Qian's case serves as a stark reminder of the dangers of investing based on promises of high profits without proper verification. Investors should always exercise caution and due diligence. Qian, who was convicted in the UK for money laundering, is now awaiting sentencing for her crimes in China.
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