Chinese Crypto Fraudster Pleads Guilty to Laundering $7 Billion

A Chinese woman alleged to be behind a huge investment fraud pleaded guilty to charges she used Bitcoin to launder criminal money, in a case that stems from one of the largest cryptocurrency seizures ever by British police.

Yadi Zhang, 47 and also known as Zhimin Qian, pleaded guilty to charges of possessing and transferring criminal property, while her assistant Seng Hok Ling, also 47, pleaded guilty to dealing crypto at a London court this week. Their guilty pleas came on the eve of their 12 week trial. The pair will be sentenced at on November 10.

The case stems ...