Original source text
According to reports from The Paper, the Qian Zhimin case — involving over 40 billion yuan in illegal fundraising and more than 60,000 Bitcoin — has seen new progress in China’s judicial process. On October 13, the Tianjin No.2 Intermediate People’s Court announced that it had accepted on September 28 the application by the Second Branch of the Tianjin Municipal People’s Procuratorate to confiscate illegal gains from suspect Qian Zhimin. Per the court’s released property confiscation list, in addition to Bitcoin, the virtual currencies involved include 72,745.79502 Bitcoin Cash, 72,745.78555 Bitcoin Gold, 72,745.7845 Bitcoin Satoshi Vision, 3,605,989.9995 Ripple, and 70,081,208.62553222 Dogecoin (converted by UK authorities and deposited in an interest-bearing account). Other properties targeted for confiscation include US dollar, euro, and British pound cash, jewelry, bank balances, investment portfolios, and more. The Second Branch of the Tianjin Municipal People’s Procuratorate stated that Qian Zhimin is suspected of illegal fundraising fraud, was placed on a wanted list after fleeing, and has failed to appear in court for over a year. Evidence confirms that more than 61,800 Bitcoin and other assets seized in the UK are illegal gains and their proceeds. The procuratorate requests that these illegal gains, as well as their converted, transformed, and derived properties and proceeds, be recovered and confiscated, with the exception of those legally returned to defrauded fundraising participants.Relevant content
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