An ex-UK delivery worker was found guilty of managing more than £2 billion ($2.5 billion) in bitcoin that was confiscated by law enforcement and of using that money to launder money for a Chinese scammer.
Zhang handed Wen 3,000 bitcoins, which were then worth £15 million. Wen helped to conceal the illegal origins of this digital currency by converting it into a range of high-end goods, cash, and property.
The Crown Prosecution Service (CPS) made Jian Wen’s conviction at Southwark Court public, emphasizing that the 42-year-old was found guilty of only one of three money laundering accusations.
Wen, who is set to be sentenced on May 10, is in the news. Her cryptocurrencycurrency wallets containing bitcoin worth more than £2 billion have been frozen by government enforcement.
Wen experienced significant hurdles when attempting to purchase luxury real estate in London due to tight know-your-customer laws. To avoid these challenges, she diversified her investments, purchasing jewelry in Zurich and real estate in Dubai, with the intention of translating her cryptocurrencycurrency holdings into something more tangible.
Regardless of whether Wen or the other suspect is found guilty, the Crown Prosecution Service (CPS) argues that the confiscated bitcoin may be forfeited as part of the ongoing investigation.
Read also: Alexey Pertsev Faces Charges of $1.2B Money Laundering
