🚨 61,000 BTC CASE: VICTIMS MAY MISS OUT ON BITCOIN’S MASSIVE GAINS!
$BTC
A major development has emerged in the UK legal battle over 61,000 BTC linked to the Lantian Gerui investment fraud case.
According to the latest October 12 ruling, the UK High Court decided that Chinese law, rather than English law, will govern Chinese victims’ property claims in the cross-border recovery proceedings.
⚖️ What does this mean?
Around 16,000 victims seeking compensation may face a major limitation. They could potentially receive their original investment plus interest, rather than benefiting from Bitcoin’s enormous price appreciation. However, the final recovery amount will depend on the legal proceedings.
📌 The story behind the case:
• Zhimin Qian founded Lantian Gerui in Tianjin, China. • The scheme illegally raised approximately RMB 40.2 billion from around 128,000 victims. • After fleeing to London, Qian allegedly attempted to purchase a £23.5 million mansion using Bitcoin in 2018. • Questions about the legitimate source of the funds triggered anti-money-laundering scrutiny. • UK authorities later seized approximately 61,000 BTC connected to the case.
💰 The biggest question: Who should benefit from Bitcoin’s massive appreciation—the victims who lost their savings or the legal process governing the recovered assets?
Bitcoin’s price history has made this case even more complicated, turning a major fraud investigation into a landmark battle over cryptocurrency ownership and compensation.
#EtherTook60%OfCryptoLiquidations #BlackRockCryptoAssetsJump63%
$BTC
A major development has emerged in the UK legal battle over 61,000 BTC linked to the Lantian Gerui investment fraud case.
According to the latest October 12 ruling, the UK High Court decided that Chinese law, rather than English law, will govern Chinese victims’ property claims in the cross-border recovery proceedings.
⚖️ What does this mean?
Around 16,000 victims seeking compensation may face a major limitation. They could potentially receive their original investment plus interest, rather than benefiting from Bitcoin’s enormous price appreciation. However, the final recovery amount will depend on the legal proceedings.
📌 The story behind the case:
• Zhimin Qian founded Lantian Gerui in Tianjin, China. • The scheme illegally raised approximately RMB 40.2 billion from around 128,000 victims. • After fleeing to London, Qian allegedly attempted to purchase a £23.5 million mansion using Bitcoin in 2018. • Questions about the legitimate source of the funds triggered anti-money-laundering scrutiny. • UK authorities later seized approximately 61,000 BTC connected to the case.
💰 The biggest question: Who should benefit from Bitcoin’s massive appreciation—the victims who lost their savings or the legal process governing the recovered assets?
Bitcoin’s price history has made this case even more complicated, turning a major fraud investigation into a landmark battle over cryptocurrency ownership and compensation.
#EtherTook60%OfCryptoLiquidations #BlackRockCryptoAssetsJump63%