REX v. Zhimin Qian and Seng Hok Ling

Southwark Crown Court, T20220112 (11 Nov 2025) (sentencing remarks)

蓝天格锐案：加密货币犯罪与跨境资产追偿

案号 T20220112，2025年11月11日，英国南华克刑事法院（量刑陈述）

The English criminal case REX v. Zhimin Qian and Seng Hok Ling has become one of the most significant cryptocurrency-related prosecutions in recent years. Known in China as the Lantian Gerui Case, it demonstrates how proceeds of large-scale investment fraud were moved across borders using digital assets—and how criminal proceedings can intersect with civil recovery and cross-border debt collection.

英国刑事案件 REX v. Zhimin Qian and Seng Hok Ling（即“蓝天格锐案”）是近年来最受关注的加密货币相关案件之一。该案清晰展现了大规模非法集资所得如何通过数字资产跨境转移，也揭示了刑事程序与民事追偿、跨境债务执行之间的紧密联系。

The underlying funds originated from an investment fraud conducted in China between 2014 and 2017 through the Lantian Gerui platform. While initially portrayed as a legitimate investment business, the scheme ultimately collapsed, causing widespread losses. Substantial funds were converted into Bitcoin and transferred offshore, beyond the immediate reach of domestic enforcement.

案件资金源于2014年至2017年间在中国实施的“蓝天格锐”非法集资诈骗。该平台最初以合法投资为名，最终却造成大量被害人损失。相当一部分资金被转换为比特币并转移至境外，从而脱离了传统国内执行体系。

This case highlights how cryptocurrency can be used to move value across borders quickly and discreetly. Unlike traditional bank transfers, digital wallets allowed assets to be stored and transferred with minimal transparency, creating serious challenges for both regulators and creditors seeking recovery.

蓝天格锐案凸显了加密货币在跨境转移中的特殊作用。相较于银行转账，数字钱包在透明度和监管方面存在天然不足，使资产得以迅速、隐蔽地跨境流动，极大增加了追偿难度。

A critical takeaway from REX v. Zhimin Qian and Seng Hok Ling is the court’s approach to valuation. The court confirmed that cryptocurrency should be valued based on its market value at the time of possession or seizure, not its original purchase price.

本案确立的重要规则在于：加密货币的价值应以被告实际持有或被查扣时的市场价格为准，而非最初购入成本。

Zhimin Qian was found to be the principal architect of the laundering operation. Seng Hok Ling (凌宏) played an active supporting role.

法院认定钱志敏是洗钱活动的核心策划者，同案被告凌宏在加密货币转移和兑换中发挥了重要作用。

An important feature of the case is how criminal proceedings facilitated asset recovery through restraint and confiscation powers.

本案显示了刑事程序在资产回收中的关键作用。

Alongside the UK criminal case, many Chinese law firms represent different groups of victims through civil recovery actions.

在英国刑事案件之外，多家中国律师事务所正代表不同被害人群体通过民事途径追索资金。

Civil recovery does not depend on the completion of criminal confiscation.

民事追偿并不以刑事没收完成为前提。

For creditors and victims, the Lantian Gerui Case shows how criminal findings can support later civil enforcement and cross-border debt collection.

对债权人和被害人而言，蓝天格锐案展示了刑事裁判如何服务于后续的民事执行与跨境债务追偿。

The author advises clients on cross-border debt collection, asset tracing and recovery, including matters involving cryptocurrency and parallel civil and criminal proceedings.

作者长期从事跨境债务追偿、资产追踪与回收法律服务，涵盖涉及加密货币及民刑并行程序的复杂案件。