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Chinese woman convicted after ‘world’s biggest’ bitcoin seizure

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Zhimin Qian, also known as Yadi Zhang, was convicted on Monday [BBC]

A Chinese national has been convicted following an international fraud investigation which resulted in what’s believed to be the single largest cryptocurrency seizure in the world.

The Metropolitan Police says it recovered 61,000 bitcoin worth more than £5bn ($6.7bn) in current prices.

Zhimin Qian, also known as Yadi Zhang, pleaded guilty on Monday at Southwark Crown Court of illegally acquiring and possessing the cryptocurrency.

Between 2014 and 2017 she led a large-scale scam in China which involved cheating more than 128,000 victims and storing the stolen funds in bitcoin assets, the Met said in a statement.

It said the 47-year-old’s guilty plea followed a seven-year probe into a global money laundering web which began when it got a tipoff about the transfer of criminal assets.

Qian had been “evading justice” for five years up to her arrest, which required a complex investigation involving multiple jurisdictions, said Detective Sergeant Isabella Grotto, who led the Met’s investigation.

She fled China using false documents and entered the UK, where she attempted to launder the stolen money by buying property, said the Met.

“By pleading guilty today, Ms Zhang hopes to bring some comfort to investors who have waited since 2017 for compensation, and to reassure them that the significant rise in cryptocurrency values means there are more than sufficient funds available to repay their losses,” said Qian’s solicitor Roger Sahota, of Berkeley Square Solicitors.

But some reports have suggested the UK government will seek to retain the seized funds.

The BBC has approached the Treasury and the Home Office for a response.

Reforms to crime legislation under the previous Conservative government aimed to make it easier for the UK authorities to seize, freeze and recover crypto assets.

The changes would also allow some victims to apply for the release of their assets held in accounts.

Qian had help from a Chinese takeaway worker named Jian Wen, who was jailed for six years and eight months last year for her part in the criminal operation.

Wen, 44, laundered the proceeds from the scam and moved from living above a restaurant to a “multi-million pound rented house” in north London, said Crown Prosecution Service (CPS) earlier this year.

She also bought two properties in Dubai worth more than £500,000, the CPS said.

The Met said it seized more than £300m worth of bitcoin from Wen.

Crown Prosecution Service The large home in North London that Jian Wen moved into in 2017. The picture shows a three-storey house with an expansive driveway. A grey car is parked next to the house, which has multiple large windows.
The North London property Jian Wen moved into in 2017 [BBC]

Chinese media outlet Lifeweek reported in 2024 that investors, mostly between 50 and 75 years old, had poured “hundreds of thousands to tens of millions” of yuan into investments promoted by Qian.

Some of the victims – including business people, bank employees and members of the judiciary – were reportedly urged to invest with Qian’s scheme by friends and family.

The investors reportedly knew little about Qian, who was described as “the goddess of wealth”.

“Bitcoin and other cryptocurrencies are increasingly being used by organised criminals to disguise and transfer assets, so that fraudsters may enjoy the benefits of their criminal conduct,” said deputy chief Crown prosecutor, Robin Weyell.

“This case, involving the largest cryptocurrency seizure in the UK, illustrates the scale of criminal proceeds available to those fraudsters.”

Monday’s conviction marks the “culmination of years of dedicated investigation”, which has involved the police and Chinese law enforcement teams, said Will Lyne, the Met’s Head of Economic and Cybercrime Command.

Qian is being held in custody ahead of sentencing, which will take place after a trial involving others linked with the case. The date of her sentencing has yet to be fixed.

The BBC has contacted the Chinese embassy in the UK for comment.

[BBC]



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Myanmar votes as military holds first election since 2021 coup

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Myanmar's military chief Min Aung Hlaing shows his inked finger after voting at a polling station during the first phase of Myanmar's general election in Naypyidaw on December 28, 2025 [Aljazeera]

Polls have opened in Myanmar’s first general election since the country’s military toppled Nobel laureate Aung San Suu Kyi’s democratically elected government in a 2021 coup.

The heavily restricted election on Sunday is taking place in about a third of the Southeast Asian nation’s 330 townships, with large areas inaccessible amid a raging civil war between the military and an array of opposition forces.

Following the initial phase, two rounds of voting will be held on January 11 and January 25, while voting has been cancelled in 65 townships altogether.

“This means that at least 20 percent of the country is disenfranchised at this stage,” said Al Jazeera’s Tony Cheng, reporting from Myanmar’s largest city, Yangon. “The big question is going to be here in the cities, what is the turnout going to be like?”

In Yangon, polling stations opened at 6am on Sunday (23:30 GMT, Saturday), and once the sun was up, “we’ve seen a relatively regular flow of voters come in,” said Cheng.

“But the voters are generally middle aged, and we haven’t seen many young people. When you look at the ballot, there are only few choices. The vast majority of those choices are military parties,” he said.

The election has been derided by critics – including the United Nations, some Western countries and human rights ⁠groups – as an exercise that is not free, fair or credible, with anti-military political parties not competing.

Aung San Suu Kyi, who was deposed by the military ​months after her National League for Democracy (NLD) won the last general election by a landslide in 2020, remains in detention, and her party has been dissolved.

The pro-military Union Solidarity and Development Party (USDP) is widely expected to emerge as the largest party.

The military, which has governed Myanmar since 2021, said the vote is a chance for a new start, politically and economically, for the nation of 55 million people, with Senior General Min Aung Hlaing consistently framing the polls as a path to reconciliation.

Dressed in civilian clothes, the military chief cast his ballot shortly after polling stations opened in Naypyidaw, the country’s capital. He then held up an ink-soaked figure and smiled widely.

Voters must dip a ⁠finger into indelible ink after casting a ballot to ensure they do not vote more than once.

He told reporters afterwards that the elections are free and fair, and the vote was not tarnished because it is being held by the military.

The state-run Global New Light of Myanmar, in an opinion piece on Sunday, said the poll would open a new chapter and “serve as bridge for the people of Myanmar to reach a prosperous future”.

Earlier, it reported that election observers from Russia, China, Belarus, Kazakhstan, Cambodia, Vietnam, Nicaragua and India have flown into the country ahead of the polls.

But with fighting still raging in many areas of the country, the UN’s Special Rapporteur on Myanmar, Tom Andrews called on the international community to reject the military-run poll.

“An election organised by a junta that continues to bomb civilians, jail political leaders and criminalise all forms of dissent is not an election – it is a theatre of the absurd performed at gunpoint,” Andrews said in a statement.

“This is not a pathway out of Myanmar’s crisis. It is a ploy that will perpetuate repression, division and conflict,” he said.

The civil war, which was triggered by the 2021 coup, has killed an estimated 90,000 people, displaced 3.5 million and left some 22 million people in need of humanitarian assistance.

According to the Assistance Association for Political Prisoners, more than 22,000 people are currently detained for political offences.

In downtown Yangon, stations were cordoned off overnight, with security staff posted outside, while armed officers guarded traffic intersections. Election officials set up equipment and installed electronic voting machines, which are being used for the first time in Myanmar.

The machines will not allow write-in candidates or spoiled ballots.

Among a trickle of early voters in the city was 45-year-old Swe Maw, who dismissed international criticism.

“It’s not an important matter,” he told the AFP news agency. “There are always people who like and dislike.”

In the central Mandalay region, 40-year-old Moe Moe Myint said it was “impossible for this election to be free and fair”.

“How can we support a junta-run election when this military has destroyed our lives?” she told AFP. “We are homeless, hiding in jungles, and living between life and death,” she added.

The second round of polling will take place in two weeks’ time, before the third and final round on January 25.

Dates for counting votes and announcing election results have not been declared.

Analysts say the military’s attempt to establish a stable administration in the midst of an expansive conflict is fraught with risk, and that significant international recognition is unlikely for any military-controlled government.

“The outcome is hardly in doubt: a resounding USDP victory and a continuation of army rule with a thin civilian veneer,” wrote Richard Horsey, an analyst at the International Crisis Group in a briefing earlier this month.

“But it will in no way ease Myanmar’s political crisis or weaken the resolve of a determined armed resistance. Instead, it will likely harden political divisions and prolong Myanmar’s state failure. The new administration, which will take power in April 2026, will have few better options, little credibility and likely no feasible strategy for moving the country in a positive direction,” he added.

People line up to vote inside a polling station during the first phase of Myanmar's general election in Yangon on December 28, 2025.Polling opened in Myanmar's heavily restricted junta-run elections, beginning a month-long vote democracy watchdogs describe as a rebranding of military rule.
The Southeast Asian nation of about 50 million is riven by civil war, and there will be no voting in rebel-held areas, which is more than half the country [Aljazeera]

[Aljazeera]

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Interment of singer Latha Walpola at Borella on Wednesday [31st]

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Family sources have confirmed that the interment of singer Latha Walpola will be performed at the General Cemetery Borella on Wednesday (31 December).

 

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Ex-Malaysia PM Najib Razak given 15-year jail term over state funds scandal

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Najib Razak is already serving a six-year jail sentence for a separate case of embezzlement related to 1MDB (BBC)

Former Malaysian Prime Minister Najib Razak has been jailed for 15 years for abuse of power and money laundering, in his second major trial for a multi-billion-dollar state funds scandal.

Najib, 72, was accused of misappropriating nearly 2.3 billion Malaysian ringgit ($569m; £422m) from the nation’s sovereign wealth fund 1Malaysia Development Berhad (1MDB).

On Friday afternoon a judge found him guilty in four charges of abuse of power and 21 charges of money laundering.

The former PM is already in jail after he was convicted years ago in another case related to 1MDB.

Friday’s verdict comes after seven years of legal proceedings, which saw 76 witnesses called to the stand.

The verdict, delivered in Malaysia’s administrative capital Putrajaya, is the second blow in the same week to the embattled former leader, who has been imprisoned since 2022.

He was handed four 15-year sentences on abuse of power charges, as well as five years each on 21 money laundering charges. The jail terms run concurrently under Malaysian law.

On Monday, the court rejected his application to serve the remainder of his sentence under house arrest.

But the former prime minister retains a loyal base of supporters, who claim that he’s a victim of unfair rulings and who have showed up at his trials calling for his release.

On Friday, dozens of people gathered outside the court in Putrajaya in support of Najib.

The 1MDB scandal made headlines across the world when it came to light a decade ago, embroiling prominent figures from Malaysia to Goldman Sachs and Hollywood.

Investigators estimated that $4.5bn was siphoned from the state-owned wealth fund into private pockets, including Najib’s.

Najib’s lawyers claim that he had been misled by his advisers – in particular the financier Jho Low, who has maintained his innocence but remains at large.

But the argument has not convinced Malaysia’s courts, which previously found Najib guilty of embezzlement in 2020.

That year, Najib was convicted of abuse of power, money laundering and breach of trust over 42 million ringgit ($10m; £7.7m) transferred from SRC International – a former unit of 1MDB – into his private accounts.

He was sentenced to 12 years in prison, but saw his jail term halved last year.

The latest case concerns a larger sum of money, also tied to 1MDB, received by his personal bank account in 2013. Najib said he had believed the money was a donation from the late Saudi King Abdullah – a claim rejected by the judge on Friday.

Separately Najib’s wife, Rosmah Mansor, was sentenced to ten years in jail in 2022 for bribery. She is free on bail pending an appeal against her conviction.

The scandal has had profound repercussions on Malaysian politics. In 2018 it led to a historic election loss for Najib’s Barisan Nasional coalition, which had governed the country since its independence in 1957.

Now, the recent verdicts has highlighted fissures in Malaysia’s ruling coalition, which includes Najib’s party United Malays National Organisation (UMNO).

Najib’s failed house arrest bid on Monday was met with disappointment from his allies but celebrated by his critics within the same coalition.

Malaysia’s Prime Minister Anwar Ibrahim called for politicians on all sides to respect the court’s decisions.

Former Malaysian lawmaker Tony Pua told the BBC’s Newsday programme that the verdict would “send a message” to the country’s leaders, that “you can get caught for corruption even if you’re number one in the country like the prime minister”.

But Cynthia Gabriel, founding director of Malaysia’s Center to Combat Corruption and Cronyism, argued that the country has made little headway in anti-corruption efforts despite the years of reckoning after the 1MDB scandal.

Public institutions have not been strengthened enough to reassure Malaysians that “the politicians they put into power would actually serve their interests” instead of “their own pockets”, she told Newsday.

“Grand corruption continues in different forms”, she added. “We don’t know at all if another 1MDB could occur, or may have already occurred.”

(BBC)

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