A British woman has been sentenced to almost seven years in prison for Bitcoin laundering linked to a £5 billion investment fraud in China. Authorities seized more than 61,000 Bitcoins in the course of their investigation, now worth more than $4 billion.
UK woman sentenced to 6 years and 8 months in prison for Bitcoin laundering
Jian Wena woman with dual British and Chinese nationality, has sentenced to six years and eight months in the United Kingdom. Between 2017 and 2022, she allegedly laundered around 150 bitcoins on behalf of a Chinese woman, as part of a massive scam.
This operation was part of a large-scale fraudulent scheme, which led authorities to seize over 61,000 Bitcoins in February, currently valued at over $4 billion.
At trial, Jian Wen has denied all the accusations made against her. Her lawyer, Mark Harries claimed that she had been manipulated by a “mastermind” and was unaware of the fraudulent origin of the funds. According to the defense, the accused had simply followed instructions without knowing that the money came from illicit activities.
However, the judge Sally-Ann Hales was not convinced by these arguments. At the time of sentencing, she said she was convinced that Wen was aware of the illegal nature of its activities.
This case comes at a time when the United Kingdom has recently tightened its regulation of cryptocurrencies, requiring companies in the sector to register with the Financial Conduct Authority (FCA) and comply with anti-money laundering rules.
As a journalist at Coinpri, I’ve been captivated by the world of bitcoin and blockchain since 2020. The decentralized aspect of Bitcoin particularly piqued my interest. Since then, I’ve been working constantly to spread my knowledge, hoping one day to see a world where everyone fully enjoys their financial freedom.
