$6 Billion Scam Charged in Court, Chinese Hong Kong Bitcoin ETF Flaw: Asia Express

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Chinese national accused of $5.94 billion scam In court

Yadi Zhang, A Chinese national alleged has to have scammed on 130,000 Continent Chinese investors out of 43 billion Chinese Yuan ($5.94 billion) And SO bleached THE product using Bitcoin, has has been apprehended by UNITED KINGDOM authorities.

During her has Westminster The magistrates Court on April 20, Zhang noted through A translator that She destined has plead not guilty has two charges of criminal possession of cryptocurrency. She was returned In guard.

"There should be No rushing has judgement In This case. M.S. Zhang asserts that She East entirely innocent," her lawyer, Roger Sahota of Berkeley Square Lawyers, said THE .

Previously, her assistant, Magnifying glass Jian, A 42 years old fast food worker In East London, has charges of money whitening. In 2018, London police on 61,000 Bitcoin, NOW value $4.0 billion, In A House raid Or two women were life has THE time.

Operating through THE business "Blue Sky Grid," Zhang allegedly orchestra A of THE the biggest Ponzi diagrams In Continent China with on 130,000 victims. Local news has THE time:

"Blue Sky Grid was established In Tianjin In 2014. With slogans such as environmental protection development, clever age care, And Bitcoin mining, THE business uses zero risk And high interest discounts as bait, And led product promotion meetings, developed brokers, And course And formations, sign investment Agreements with THE public, And absorb social funds"

When investors had won "sufficient interest" And research has withdraw, However, things doesn't go GOOD.

In 2017, confronted with A slight increase In redemption requests, Zhang would have leak China, First of all purchase A Burmese passport In THE name of " Nope “Yin” And using THE forge document has get A authentic St. Kitts And Nevis passport through THE country citizenship by investment program. Zhang SO used THE Nevisian passport has flee has THE UNITED KINGDOM.

< /p> Yadi Zhang's authentic St. Kitts And Nevis citizenship allegedly got through A fake passport. (Weixin)

However, due has her lack of English SKILLS And A disability Since A previous accident, Zhang was unable has care For se In THE UNITED KINGDOM And necessary A partner in crime. Around This time, fast food worker Magnifying glass Jian, WHO was SO sleep In THE basement of THE East London restaurant Or She work, saw A caretaker job announcement job by Zhang And replied.

THE two women quickly began A mutually beneficial relationship.

Using that of Jian UNITED KINGDOM identify, Zhang was allegedly able has open legitimate accounts has crypto Exchanges And whiten her investors capital by purchase Bitcoin And collection out has self-guard wallets. In the meantime, Jian quickly adopted A sumptuous way of life, rental out A luxurious manor In North London For 17,000 pound sterling ($21,277) by month.

However, THE saga came has A END After THE two women tent has purchase two historical mansions In North London For A combined 36 million pound sterling ($45 million), but could not explain THE source of THE funds. This tip disabled London police WHO became suspicious of money whitening.

In 2018, UNITED KINGDOM police raided THE House Zhang And Jian And discovered 48 electronic devices including laptop, Phone(s, And USB The sticks allegedly used has whiten funds In Bitcoin. By 2021, legal police manage has decipher THE devices And earn to access has 61,000 Bitcoin estimated has $4 billion. THE Or of THE stay of THE stolen funds are Currently unknown.

He East unlikely that Blue Sky Grid investors will Never get their money back. After THE epileptic crisis, UNITED KINGDOM police to have Since applied For civil confiscation of THE Bitcoin, which means that if approved by courts, THE stolen Bitcoin will be reverse has THE UNITED KINGDOM government And put up for auction.