British officials are pursuing £16.2 million from Malaysian national Hok Seng Ling after his conviction for money laundering in a massive Bitcoin fraud case. The 47-year-old admitted guilt at Southwark Crown Court through an interpreter one day after Chinese businesswoman Zhimin Qian confessed to leading the multi-billion pound scheme. Prosecutors stated Ling managed cryptocurrency transactions for Qian while living in Derbyshire and took over operations after another accomplice's arrest.
Authorities believe Qian defrauded more than 128,000 victims in China between 2014 and 2017 before fleeing to Britain with Bitcoin assets valued at approximately £5.5 billion. She attempted to launder proceeds through property purchases. Metropolitan Police investigators linked Ling to moving funds into cryptocurrency after the 2023 arrest of Jian Wen, who received a six-year prison sentence for her role. Both defendants remain detained ahead of their November sentencing hearing.
Authorities believe Qian defrauded more than 128,000 victims in China between 2014 and 2017 before fleeing to Britain with Bitcoin assets valued at approximately £5.5 billion. She attempted to launder proceeds through property purchases. Metropolitan Police investigators linked Ling to moving funds into cryptocurrency after the 2023 arrest of Jian Wen, who received a six-year prison sentence for her role. Both defendants remain detained ahead of their November sentencing hearing.
