London Resident with $2.5B Bitcoin Convicted for Money Laundering 😱

Resident Found Guilty Of Laundering $2.52 Billion in Bitcoin

A Chinese national living in Hendon, North London, Jian Wen, was recently convicted at the Southwark Crown Court for participating in a money laundering scheme. In 2017, Wen, pretending to be a jewelry business employee, attempted to purchase high-end properties in London. However, she encountered difficulties passing anti-money laundering checks.

As a result, in 2019, Wen opted to acquire jewelry from Zurich and luxury real estate in Dubai. The Metropolitan Police Service (Met) spearheaded a comprehensive investigation, leading to the seizure of a substantial Bitcoin stash valued at approximately $4.28 billion, translating to an initial value of $2.52 billion.

Uncovering a Massive Bitcoin Trove

The Met’s inquiry involved searching various locations, examining 48 electronic devices, and scrutinizing thousands of digital files. Following their probe, authorities uncovered the colossal Bitcoin cache, the largest seizure of its kind in the UK to date. The Crown Prosecution Service (CPS) secured a freezing order from the High Court, paving the way for potential BTC forfeiture.

Metropolitan Police Service captured a Bitcoin stack valued at $4.28 billion
Investigation reviewed 48 electronic devices and thousands of digital files
Authorities obtained a large-scale Bitcoin freezing order from the High Court

Prosecution and Sentencing

Senior officials, including Detective Chief Superintendent Jason Prins, emphasized the gravity of the case. The diligent five-year investigation underscores the authorities’ commitment to pursuing criminals who attempt to profit from illegal activities, irrespective of the case’s complexity. Jian Wen is scheduled for sentencing on May 10th.