Key Highlights: London’s High Court determined that Chinese law governs property rights over 61,000 Bitcoin seized by the Metropolitan Police, currently valued at roughly $5 billion. The ruling stems from civil recovery proceedings targeting fraud mastermind Zhimin Qian, who was sentenced to 11 years and eight months for money laundering. While the decision establishes the ...
Key Highlights: The London High Court ruled that victims of a massive Chinese Ponzi scheme cannot use English law to claim 61,000 seized bitcoin worth approximately £3.8 billion ($5 billion). Mr Justice Mark Turner determined that Chinese law must govern the property claims because the underlying fraud took place entirely within China. The decision significantly ...
Key Highlights: The UK High Court has ruled that Chinese law governs the ownership dispute concerning over 61,000 Bitcoins recovered from the massive “Blue Sky Green” investment fraud. British police originally seized the digital assets in 2018 following an operation targeting the multi-billion-pound scheme that defrauded investors between 2014 and 2017. The decision establishes governing ...