Professional money launderer is ordered to payback over £5 million after a large-scale investment fraud
A professional money launderer, who assisted with the laundering of funds from a high value investment fraud committed in China has been ordered to payback £5,603,305.81 or face extra time in jail – today (Thursday 22 January 2026).
Seng Hok Ling, 47, after pleading guilty to one count of a money laundering related offence at Southwark Crown Court and was sentenced to four years and 11 months on 11 November 2025.
The main defendant in this criminal conspiracy Zhimin Qian (aka Yadi Zhang), 47, a Chinese national, was sentenced to 11 years and eight months imprisonment after pleading guilty to two offences money laundering at Southwark Crown Court on the same day as Ling.
Qian transferred a total of 67.7 Bitcoin to wallets controlled by Ling in February 2024 and then a further 16 Bitcoin were transferred to him in April 2024. After receiving the cryptocurrency, he then converted these into other cryptocurrencies, including Tether, the price for which is linked to the price of the US Dollar. Some of these funds were then transferred abroad and paid into bank accounts in the United Arab Emirates. Some of the cryptocurrencies held by Ling were sent to third parties and converted into cash, which was then withdrawn in the UK.
Ling provided valuable criminal services to Qian, such as arranging employees to work for her in the UK at a time when she was seeking to evade police capture, seeking to obtain false identification documents for her, and arranging the rental of properties for her within the UK.
The Crown Prosecution Service and Metropolitan police seizure of over 60,000 Bitcoin is the largest ever in the UK. Prosecutors have told the court previously the sheer scale of the seized Bitcoin, the lack of any legitimate evidence for how it was acquired and its connection to a massive investment fraud in China, all indicated that it was criminal property.
Qian between 2014 and 2017 was responsible for a massive investment fraud in China involving over 128,000 victims, some of whom invested their life savings and pensions. The investment fraud led to losses of approximately £600 million. She then went on to convert around £20.2 million of the illegally obtained money into Bitcoin.
Qian then fled China and came to the UK where she met Jian Wen (convicted and imprisoned for money laundering separately) and began to try to purchase high worth property and jewellery. They made efforts to purchase properties in London, valued at £4.5 million, £23.5 million, and £12.5 million, but were hampered by difficulties transferring sufficient Bitcoin into cash and by “know your customer” questions asked under anti-money laundering regulations.
Qian fled and looked for someone else to help in translating for her and laundering the cryptocurrency. After Wen was arrested and incarcerated, Qian replaced her services with those provided by Seng Hok Ling, a Malaysian national who transferred approximately £2.5 million on her behalf.
The CPS, in conjunction with the Metropolitan Police Service, have today secured a Confiscation Order against Seng Hok Ling following his money laundering conviction. The Judge determined that he benefitted in the sum of £5,603,305.81 from his criminal conduct and then made a Confiscation Order in the sum of his available assets, which were valued at £5,603,305.81.
The Judge also ordered that if he fails to pay his Confiscation Order within three months, he could serve an additional eight years in prison. The majority of the assets in this case comprise the cryptocurrencies seized by the Metropolitan Police Service from devices seized from Ling at the time of his arrest.
Adrian Foster, Chief Crown Prosecutor of Crown Prosecution Service Proceeds of Crime Division said: “The CPS and the Metropolitan Police have successfully brought Senk Hok Ling to justice. Ling took part in a sophisticated money laundering operation which laundered many millions of pounds from the proceeds of crime. We have today secured a Confiscation Order against him of over £5 million, which he must pay within 3 months or risk being returned to prison for an additional sentence of eight years.
“In the last five years, over £478 million has been recovered from CPS obtained Confiscation Orders, ensuring that thousands of convicted criminals cannot profit from their offending. Over £95 million of that amount has been returned to victims of crime, by way of compensation.”
Security Minister Dan Jarvis said: “This order sends a clear message: we won’t allow crime to pay.
“Those who launder money through cryptocurrency will be identified, prosecuted and face time behind bars if they don’t pay up.
“We will continue to work with our law enforcement partners to recover criminal funds and bring offenders to justice.”
Notes to editors
- Adrian Foster is the Chief Crown Prosecutor for CPS Proceeds of Crime Division of the Serious Economic, Organised Crime and International Directorate
- Seng Hok Ling (DOB: 06/03/1978) of Morningside Walk, Matlock, Derbyshire, pleaded guilty to possessing criminal property, cryptocurrency, and was sentenced to 4 years and 11 months at Southwark Crown Court.
- On Thursday 22 January 2026, a Confiscation Order was made against him in the sum of £5,603,305.81 which was payable within three months. The default period of imprisonment was set at eight years.
- Time to pay 3 months in respect of the UAE accounts, the rest of the assets (all of which are in police possession, the seized cryptocurrencies and contents of the Binance wallet having all already been converted into sterling at this point – this amounted to £5,417,995.24 in total) to be paid today.
- Jian Wen (DOB: 25/12/1981) has been sentenced to six years and eight months at Southwark Crown Court for one count of money laundering. On Friday 10 January 2025, a Confiscation Order was made against Wen in the sum of £3,126,572. The default period of imprisonment was set at seven years.
- Zhimin Qian (DOB: 04/09/1978) of no fixed address pleaded guilty to acquiring criminal property, namely cryptocurrency, and possessing criminal property, cryptocurrency, and was sentenced to 11 years and eight months at Southwark Crown Court.
- Her assets have been frozen as part of a Civil Recovery investigation which is currently before the High Court, so she has no assets available to make a Confiscation Order.
- Where a defendant refuses to pay their Confiscation Order within the period permitted by the court, CPS Proceeds of Crime Division can invite a Judge to impose the default sentence of imprisonment in addition to their original sentence.
- The full debt owed continues to be recoverable until it is paid even if the default period of imprisonment is imposed. Interest at a rate of 8% p.a. accrues on the Confiscation Order amount after the period allowed for payment expires.