Qian Zhimin pleaded guilty in court! Blue Sky Ge Rui achieved a major breakthrough in cross-border recovery, victims should report their claims as soon as possible.

This article is aimed at the victims of the “Blue Sky Ge Rui” case from 2014 to 2017. It explains the progress of the case and subsequent plans; after reading, please fill out the registration form at the end of the article, which will be submitted by the Mankun Law Firm in conjunction with the UK partner law firm to assert your right to restitution in the UK court. According to a report by Reuters, Qian Zhimin has pleaded guilty in the Southwark Crown Court in London on September 29, 2025! She is currently detained awaiting sentencing. Qian Zhimin's defense lawyer initially maintained a not guilty plea, but then changed to a guilty plea in court. This significant shift is a key piece of good news for domestic victims, marking a breakthrough in the transnational recovery of the Lantian Ge Rui case! We strongly urge all victims: please seize this critical opportunity and complete the creditor declaration for victims as soon as possible. Only by proactively asserting your rights can you strive for your rightful share in the subsequent asset recovery!

Qian Zhimin pleaded guilty in court: he admitted to committing the crimes of “holding criminal property” and “transferring criminal property.” Source: Reuters The case process has accelerated into the sentencing stage. According to the Criminal Procedure Rules in the UK, once a defendant pleads guilty in the Crown Court, the court can directly record the conviction based on the confirmation of the guilty plea, without needing to conduct a full trial of facts, and instead move on to the sentencing stage. In simple terms, this is equivalent to a “shortcut” in legal proceedings — pleading guilty eliminates the need for both the prosecution and defense to engage in lengthy and complex evidence presentation and debate over the facts of the crime, significantly shortening the overall litigation cycle. For the victims, the most direct benefit is that the core objective of asset recovery — the court issuing a “confiscation order” and a “compensation order” — will be initiated more quickly, becoming a powerful tool to safeguard the rights and interests of the victims. The court has the authority to issue a compensation order during the sentencing phase. According to the Powers of Criminal Courts (Sentencing) Act 2000 in the UK, after a conviction entered, the court has the authority to issue a Compensation Order during the sentencing phase, requiring the defendant to compensate the victim for the losses caused by the crime. The policy of the Crown Prosecution Service (CPS) in the UK also states: “When a victim has suffered a loss, the court may order the defendant to pay compensation.” What is a compensation order? It is a type of ancillary order, a court order requiring the defendant to compensate the victim for losses resulting from the crime; it is usually issued during the sentencing or ancillary proceedings phase, and in practice, the court typically arranges a special hearing. Therefore, although Qian Zhimin's confession itself will not result in a compensation order, the confession will speed up the sentencing phase, and thus a compensation order is usually issued earlier. What impact does it have on the victim? Qian Zhimin's guilty plea fundamentally changed the nature of the case:

1. Greatly enhance the certainty of the outcome: Pleading guilty avoids the unexpected events that may occur during the trial (such as prolonged tug-of-war between the prosecution and defense), and prevents the victim from facing a lengthy compensation process, making the asset return time uncertain.
2. Significantly accelerate the recovery process: The simplification of procedures results in a substantial saving of time. Victims can file civil claims in UK courts and use the forthcoming “confiscation order” and “compensation order” as the most powerful evidence, allowing them to enter substantive negotiations and distribution phases for asset return earlier.
3. Expansion of recovery opportunities: The 61,000 frozen bitcoins, which were valued at around £1.4 billion when confiscated, now have a value exceeding £5 billion. This massive asset has become a focal point of interest for the UK government and Chinese investors. However, the situation regarding the recovery of the appreciation of bitcoin is much more complicated: If the UK court chooses to apply common law, it will need to rely on the principle of equitable tracing to prove that the currently frozen Bitcoin indeed originates from the victim's initial investment (including any subsequent appreciation). To achieve this, there must be a tracing report issued by professional institutions such as accounting firms and blockchain forensic companies to support the claim. If there is a lack of complete tracing evidence, the court may not accept the aforementioned principle, but instead revert to the framework of the Proceeds of Crime Act (POCA), only recognizing the principal amount as the recoverable portion. However, it is important to note that even when applying POCA, a basic evidence chain of the flow of funds must be established to prove that the relevant assets are indeed criminal proceeds; otherwise, the court will also be unable to determine the scope of what can be returned. Next step action The Mankun Law Firm will collaborate with a UK law firm to undertake one or more representative legal cases, striving for the maximum benefit for the entire victim group. During the litigation process, we will establish the victims' claims of ownership over specific units of Bitcoin. Meanwhile, we will negotiate with the UK Crown Prosecution Service to prevent the assets from being claimed by the state before the judgment of the representative case. What does the victim need to do? Register your information immediately to enter our registry; register the investment amount and timeline, payment account information, transfer/transaction records, contracts and receipts, and communication records with the handler; if you have reported to the police, please provide the receipt or case number; if the information is incomplete, register first, and we will provide you with a list of supplementary materials to complete in batches. Authorize us to recover assets on your behalf. [Scan to fill in｜Blue Sky Ge Rui Victim Registration Form👇]

Legal Disclaimer: This article is based on publicly available information and known procedural nodes for legal education and action guidance, and does not constitute formal legal advice for any individual case. For case assessment, please communicate one-on-one with our professional lawyers.