June 7, 2024
Another defendant prominent in the case is Jian Wen, a former takeaway worker convicted of money laundering approximately £2. Three billion criminal bitcoins operation. Its seizure is reported to be the largest seizure ever in the United Kingdom.
Wen, now 42, originally had a flat over a Chinese restaurant in Leeds but moved to a £22000 a month six-bed house in North London. She said that she was employed by a global organization dealing in jewelry and put her son in an elite private school.
However, Jian faced some challenges with money-laundering checks when buying other premium properties in London. She also told the court that she was earning millions through hard-earned bitcoin mining, which the court dismissed as a gimmick.
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From the digital wallets, the Metropolitan Police confiscated more than 61,000 bitcoins, which at the time were valued at around £2 billion. The value of this cryptocurrency has since risen and is currently at a value of £3—4 bn because of the fluctuation of the currency in the current financial period.
Wen was convicted at Southwark Crown Court for the specific offense of participating in a money-laundering scheme.She is all set to be sentenced on May 10.
This case also reveals the growing exploitation of cryptocurrencies by organized criminals to launder money or conceal assets for the perpetrators to benefit from crimes committed.
