According to Odaily, the arrest of fugitive Qian Zhimin in the UK has given hope to the victims of Tianjin Lantian Gerui Electronic Technology Co., Ltd., which is accused of illegally absorbing public deposits. Legal scholars note that although China and the UK have signed treaties for criminal judicial assistance, there are no detailed provisions regarding the return or sharing of assets. Therefore, the extent of asset recovery through international cooperation remains uncertain and will require further negotiation.
In a recent court session on July 25, the UK court agreed to serve liquidation application documents to Qian Zhimin. The case is expected to proceed with another hearing in September, marking the beginning of civil judicial procedures. However, the process is anticipated to be lengthy and complex, necessitating multiple court sessions to clarify the case details. During this extended period, the fluctuating value of Bitcoin and the methods of its liquidation remain uncertain.
Previously, UK police seized 61,000 Bitcoins in a money laundering case, believed to be the proceeds of Qian Zhimin's criminal activities.
