UK Court Jails Woman for Laundering 150 Bitcoin Tied to $5.6 Billion Fraud
The Southwark Crown Court in London, UK, sentenced a woman to jail for money laundering bitcoin tied to a billion-dollar investment fraud.
Jian Wen was sentenced to nearly seven years in prison on Friday after being found guilty of money laundering in connection with a £5 billion ($6.4 billion) fraud scheme.
A woman is sentenced to six years and eight months in jail for laundering massive amounts of Bitcoin linked to a $5.6 billion investment fraud in China https://t.co/mbUvTgvhb1
— Bloomberg Crypto (@crypto) May 24, 2024
According to Bloomberg reports, Jian Wen, a former fast-food worker, has been sentenced to six years and eight months in prison for laundering significant amounts of Bitcoin associated with a US$5.6 billion investment fraud in China. The case saw Wen convicted of money laundering linked to approximately 150 Bitcoin for a Chinese woman between 2017 and 2022. Law enforcement authorities seized over 61,000 Bitcoin valued at over US$4 billion.
During Friday’s sentencing, Judge Sally-Ann Hales remarked that the offense was sophisticated and involved substantial planning, stating, “I am in no doubt that you knew what you were dealing with.”
Despite holding British and Chinese citizenship, Wen consistently denied all allegations against her and is currently appealing her conviction. She portrayed herself as a victim who merely followed instructions from a woman, insisting she was unaware of the funds’ fraudulent origins. Her lawyers further portrayed Wen Jian as another victim of the mastermind behind the fraud, labeling the individual as an “expert criminal supervillain” who exploited Wen Jian’s trustworthiness before discarding her.
However, the prosecution argued that Wen was motivated by greed and
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