Zhimin Qian, accused of organizing a Ponzi scheme costing 7 billion USD, will face trial in London. Nearly 130,000 investors in China were allegedly defrauded as Qian laundered the scheme’s proceeds into Bitcoin, now valued at the same amount.
Legal experts highlight difficulties in securing a conviction due to the cross-border nature of the case, complicating evidence collection from China. UK authorities have focused on charges of unlawful possession and transfer of cryptocurrency in response.
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