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Two individuals involved in a large-scale money laundering operation have been ordered to repay more than £5 million following their roles in handling criminal proceeds linked to investment fraud. The case, brought by the Crown Prosecution Service (CPS) and investigated by the Metropolitan Police, highlights the scale of international financial crime and the increasing use of cryptocurrency to conceal illicit funds.
Seng Hok Ling, 47, pleaded guilty to a money laundering offence at Southwark Crown Court and was sentenced to four years and 11 months’ imprisonment on 11 November 2025.
The principal offender, Zhimin Qian (also known as Yadi Zhang), also 47, pleaded guilty to two money laundering offences and was sentenced to 11 years and eight months’ imprisonment.
Following Ling’s conviction, the court determined that he had benefited significantly from criminal activity and issued a Confiscation Order of £5,603,305.81 — equal to the value of his available assets.
The court ordered that the sum must be repaid within three months. Failure to do so could result in an additional eight-year prison sentence.
The case stems from a major investment fraud carried out in China between 2014 and 2017, which affected over 128,000 victims and resulted in losses of approximately £600 million.
Qian subsequently converted around £20.2 million of the proceeds into Bitcoin before relocating to the UK.
Qian transferred large amounts of cryptocurrency, including 67.7 Bitcoin in February 2024 and a further 16 Bitcoin in April 2024, to wallets controlled by Ling.
These funds were then:
The movement of funds across multiple platforms and jurisdictions was designed to disguise their criminal origin.
Ling provided key support to Qian’s activities, including:
Ling also transferred approximately £2.5 million on Qian’s behalf as part of the laundering process.
This case demonstrates the growing use of cryptocurrency in financial crime. Authorities highlighted the complexity of tracing digital assets, particularly where funds are moved across multiple wallets and converted into different currencies.
The Metropolitan Police seized over 60,000 Bitcoin during the investigation — the largest cryptocurrency seizure in UK history.
After fleeing China, Qian attempted to purchase high-value assets in the UK, including properties worth £4.5 million, £12.5 million and £23.5 million, as well as luxury jewellery.
Earlier, Qian had worked with Jian Wen, who was separately convicted of money laundering, before turning to Ling to continue the operation.
Efforts to convert cryptocurrency into cash were often disrupted by anti-money laundering checks and regulatory requirements.
Adrian Foster, Chief Crown Prosecutor for the CPS Proceeds of Crime Division, stated that the case demonstrates the effectiveness of confiscation powers in preventing criminals from profiting from their actions.
Security Minister, Dan Jarvis emphasised that those involved in laundering money through cryptocurrency will be identified, prosecuted and held accountable.
If you believe you have lost money through it is important to act quickly:
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