A Chinese language girl, Wen Jian, accused of cash laundering within the notorious 61,000 Bitcoin (BTC) fraud case has been sentenced to almost seven years in jail. The incidents which date again between 2014 and 2017 have rocked crypto areas because of the big quantity concerned.
Wen Jian Sentenced in Bitcoin Case
The defendant was accused of hiding funds allegedly stolen from about 130,000 Chinese language buyers between 2014 and 2017, Reuters reported. A court docket in London sentenced her to 6 years and eight months in jail for her position in changing Bitcoin to money and property value roughly $6.4 billion. Nonetheless has was not accused of being concerned within the underlying fraud because the mastermind was one other girl, prosecutors say.
Prosecutor Gillian Jones argued that Wen was the “entrance individual” used to transform money to Bitcoin and again to money out of China noting that she ought to have identified the cash was illegally obtained. In accordance with prosecutors, she lived in a $5 million home with a lease of $17,000 per 30 days whereas spending 1000’s of kilos on designer garments.
Wen’s consultant, Mark Harries stated she was a sufferer of an knowledgeable prison supervillain who used and deserted her as a result of she was reliable and expendable.
Whereas Wen stated that she was attempting to supply a greater life for her son, Decide Sally-Ann Hales held that there was little doubt she knew the lady was dealing in prison proceeds.
“The proof confirmed you, and to some extent, members of your loved ones have been generously rewarded on your service.”
Authorities Seized 61,000 Bitcoin
UK police launched an investigation into the incident and seized crypto wallets holding greater than 61,000 Bitcoin value round $1.7 billion in 2021. As a result of enhance within the value of Bitcoin as market adoption soared, the belongings at the moment are value over $3.8 billion. This now ranks as one of many highest Bitcoin seizures in historical past.
Wen was charged with three counts of cash laundering and located responsible on one rely by jurors at Southwark Crown Courtroom.
Additionally Learn: Do Kwon Extradition Blocked by Montenegro Courtroom
The offered content material could embrace the non-public opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any duty on your private monetary loss.
✓ Share: