UK court ruling boosts government’s chances of keeping $5 billion in seized bitcoin

A London court has strengthened the U.K. government’s chances of keeping most of 3.8 billion pounds ($5 billion) in seized bitcoin BTC $83,696.96 , after ruling that thousands of Chinese fraud victims cannot use English law to claim coins, the Financial Times reported on Tuesday . The decision concerns 61,000 BTC seized by London’s Metropolitan Police in its investigation into Zhimin Qian, who pleaded guilty to defrauding thousands of people in China . Qian ran a massive Ponzi scheme through her company, Tianjin Lantian Gerui Electronic Technology, defrauding over 128,000 investors between 2014 and 2017.