Hospitality worker arrested with #2.5B Bitcoin found guilty of money laundering

The UK police said that the arrest was the mega of its kind in nation history with sentencing date set for May.

The Southwark Crown Court was found Jian Wen of laundering money using Bitcoin for purchase multi million pound houses and jewelry.

A hospitality worker been found guilty for money laundering in UK specialized court for mega fraud cases following discovery of $2.5 billion of BTC $64,155 in her possession.

The investigation involved scrutiny of 48 electronic devices and thousands of digital files which were translated from Mandarin.

When’s change in lifestyle was what drew attention from authorities. In 2017 she went from living in flat above Chinese restaurant to renting a 6 bedroom house in North London costin $21,420 per month.

It was attempted purchase of $30 million mansion London that was red flag for authorities to investigate her.

Same year she tried to buy a series of expensive houses in London but face challenges passing money laundering checks despite her claims of earning millions from Bitcoin mining.

Stock Exchange company Nasdaq released its Global Financial Crime Report which highlights data linked to financial crime over past year and there was not mention of Bitcoin.

In 2023 around $3.1 trillion in illicit funds flowed through world financial system.

US Treasury report claim that crypto is a famous choice for money laundering but the cash continues to be preferred option.Treasury highlighted the anonymity and stability of cash as a means of payment as primary reason why it remains the preferred choice of laundering illicit proceeds.

 

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