British-Chinese language Girl Sentenced to six Years for Laundering Bitcoin in $6B Rip-off

In a high-profile case involving an enormous cryptocurrency fraud, a British-Chinese language lady, Jian Wen, has been sentenced to 6 years and eight months in jail for her position in laundering Bitcoin proceeds from a $6 billion funding rip-off in China.

Wen, aged 42, was discovered responsible in March of laundering Bitcoin on behalf of her former boss, Yadi Zhang, whose actual title is Zhimin Qian.

In response to a current report, Qian is alleged to have defrauded round 130,000 traders in China, amassing a whopping $5 billion by an funding rip-off.

Whereas Wen was not accused of direct involvement within the fraud itself, she was convicted of laundering the proceeds by changing the Bitcoin into money and utilizing the funds to buy property, jewellery, and different luxurious objects.

In 2018, UK police seized over $2.2 billion value of bitcoin associated to the alleged fraud in a big operation.

In the course of the trial, Wen’s lawyer claimed that she had been “duped and used” by her boss, asserting that she was unaware of the felony origins of the BTC she was dealing with.

Nevertheless, the choose in Southwark Crown Courtroom rejected these and said instantly that the proof reveals Wen had full data she was laundering felony proceeds.

The choose additionally highlighted the advanced and premeditated nature of Wen’s cash laundering operation.

With felony entities more and more utilizing cryptocurrencies to disguise and switch illicit property, UK authorities have vowed to crack down on such actions, with the lead investigator stating that they may “depart no stone unturned” to catch criminals exploiting cryptocurrencies for unlawful functions.