UK Sentences Woman to Prison for Laundering Bitcoin After Police Seize 61K BTC

A woman has been sentenced to nearly seven years in prison for laundering bitcoin tied to a £5 billion fraud in China. Authorities seized over 61,000 bitcoin during their investigation, now worth over $4 billion. The woman denied all charges, claiming she was manipulated by a “mastermind.”

61K Bitcoin Seizure Leads to Jail Sentence

A former fast food worker, Jian Wen, was sentenced to six years and eight months in prison for laundering Bitcoin linked to a £5 billion investment fraud in China. Wen was found guilty of laundering linked to approximately 150 Bitcoin for a Chinese woman between 2017 and 2022. This operation was part of a larger scheme where authorities seized over 61,000 bitcoin during their investigation, now valued at over $4 billion.

Judge Sally-Ann Hales, who handed down the sentence, remarked:

This was an offense which was sophisticated and involved significant planning … I am in no doubt that you knew what you were dealing with.

Wen, a dual British and Chinese citizen, denied all allegations and is appealing her conviction. She claimed to have been manipulated by a “mastermind,” following instructions without knowing the funds were illicit. Her lawyer, Mark Harries, argued that Wen was unaware of the fraudulent origins of the money and had no involvement in the core fraud in China.

Prosecutors said Wen Jian helped hide the source of money allegedly stolen from nearly 130,000 Chinese investors in fraudulent wealth schemes between 2014 and 2017. Despite her claims, the prosecution depicted Wen as driven by greed, controlling the crypto wallet and converting stolen money into Bitcoin to move it out of China and back into cash.

Despite her denials, Wen was found guilty of one count of money laundering. Her transformation from living in the basement of an east London Chinese takeaway to residing in a six-bedroom mansion, indulging in luxury shopping sprees at Harrods, highlighted the extent of her financial gain.

What do you think about this case? Let us know in the comments section below. #Write2Earn