% 4.47
BTC Dominance:
% 0.13
Market Cap:
$2.44 T
% 3.67
Fear & Greed:
74 / 100
$ 69.845
BTC Dominance:
% 54.4
Market Cap:
$2.44 T

UK Court Sentences to Prison for Money Laundering with Bitcoin

Uk, Crypto

Jian Wen was sentenced to six years and eight months in prison for laundering 150 BTC in connection with a $5.6 billion investment fraud.

Southwark Crown Court in London sentenced a woman to prison for laundering bitcoins linked to a billion-dollar investment scam, Bloomberg reports.

Jian Wen, 42, who has dual citizenship, was sentenced to six years and eight months in prison for laundering 150 BTC worth approximately $10.4 million. The bitcoins were part of a broader investment fraud operation in which authorities seized 61,000 BTC, worth about $4.22 billion, and are thought to be part of a broader $5.6 billion scheme.

Wen claims that he laundered these funds on behalf of a Chinese woman between 2017 and 2022, and states that this woman was the “brains” of the operation. Wen also says he did not know the true source of the funds and the court did not accuse him of participating in the broader fraud, Bloomberg adds. Before starting this job, Wen worked as a food delivery worker.

Bitcoin traded at $69,077.30 as of 18:25 UTC on May 24. According to price data, the token has risen by 3.04% to $2,035 in the last 24 hours.

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