Jian Wen, a former takeaway worker residing in north London, was found guilty of one count of money laundering after she was found with Bitcoin worth over $2.5 billion in 2018.
Wen’s attempt to legitimize her newfound wealth by claiming to have earned millions through legitimate Bitcoin mining was not believed. She also faced difficulties passing money-laundering checks when attempting to purchase expensive properties in London.that another suspect named Zhang Yadi is believed to be the mastermind behind the fraud. Prosecutors alleged that Wen aided Zhang in converting stolen funds amassed through fraudulent wealth schemes targeting thousands of Chinese investors.
The Crown Prosecution Service has obtained a freezing order from the High Court as part of a civil recovery investigation that could lead to the forfeiture of the Bitcoin.During the trial, Prosecutor Gillian Jones disclosed that Zhang entered Britain in 2017 with a fake passport amid Chinese authorities’ probe into the fraud. Zhang sought to convert the stolen funds, initially turned into Bitcoin for their transfer out of China, and used Wen as a “front person.
Andrew Penhale, the chief crown prosecutor at the CPS, noted organized criminals’ increasing use of cryptocurrencies to disguise and transfer assets. He stated that this case illustrates the significant proceeds available to such fraudsters.
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Hospitality worker caught with $2.5B Bitcoin found guilty of money launderingThe Southwark Crown Court in the United Kingdom has reportedly found Jian Wen guilty of money laundering in connection with more than $2.5 billion worth of Bitcoin.
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