£1.7 Billion in Bitcoin Seized from Former Restaurant Worker in UK Money Laundering Case
Summary:
Bitcoin valued at $1.7 billion was seized from Jian Wen, a former restaurant worker and British citizen of Chinese origin, who was allegedly involved in a money laundering scheme. Wen attempted to purchase a $30 million mansion in London with her Bitcoin assets but was unable to account for their origin. The prosecutor maintains that Wen aided Zhimin Qian in money laundering proceeds from an investment fraud in China. Wen is currently facing three charges of money laundering, which she denies, while Qian has fled the UK and remains at large.
Bitcoin valued at $1.7 billion was reportedly seized from a former restaurant employee attempting to purchase a $30 million mansion in London. Sky News disclosed on January 30th that Jian Wen, a Chinese expat and British citizen since 2018, was supposedly enlisted to aid Zhimin Qian in a money laundering operation. Qian, who entered the United Kingdom under a fake name, required assistance in laundering funds gained from an investment scam in China running from 2014 to 2017. Wen had been employed in a southeast London Chinese restaurant prior to this, living in a basement room beneath the business before Qian's introduction. She introduced Qian as an executive in an international jewelry firm. Gillian Jones KC, the prosecutor, stated that Wen tried to purchase high-end goods and London real estate with the Bitcoin proceeds. These included a $30 million residence in Hampstead, boasting seven bedrooms and a swimming pool. Transactions were never completed as Wen was unable to account for the origins of her cryptocurrency assets. Prosecutor Jones advised the jury that Wen was not complicit in Qian's fraud, however charges have been brought against her for converting Bitcoin into cash, luxury goods, and property on behalf of Qian. A residence leased by Wen and Qian was allegedly searched and authorities confiscated devices with over 61,000 BTC, approximated at $1.7 billion according to 2021 rates. Wen first claimed her cryptocurrency was mined, later changing her statement and suggesting it was a “gift of love”, even presenting a declaration that Qian had gifted her 3000 BTC. Southwark Crown Court is currently hearing Wen's case where she faces three charges of money laundering spanning October 2017 to January 2022. She denies all accusations. Qian has already fled the UK and remains at large.
Published At
1/31/2024 2:45:00 PM
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