London Mansion Raid Uncovers Massive Bitcoin Stash
In 2018, a raid on a London mansion belonging to Jian Wen and Yadi Zhang led to the seizure of 61,000 Bitcoin, currently valued at over £3 billion. This marked one of the largest cryptocurrency hauls by law enforcement worldwide.
Wen’s Involvement in Money Laundering
Jian Wen, 42, was convicted of laundering Bitcoin allegedly derived from a £5 billion fraud in China. Prosecutors claimed that her former boss, Yadi Zhang, was behind the scheme. Wen was sentenced to six years and eight months in prison.
Judge’s Assessment
Judge Sally-Ann Hales described the offense as “sophisticated with significant planning.” She emphasized that Wen had full knowledge of dealing with the proceeds of crime.
Wen’s Defense and Mitigation
Wen’s lawyer argued that she was a “fragile and desperate woman” who was deceived. However, the judge rejected this characterization. Wen admitted to controlling a Bitcoin wallet but claimed ignorance about the cryptocurrency’s source.
International Cooperation
The Metropolitan Police is pursuing a civil recovery process to seize the confiscated funds and is collaborating with Chinese authorities. Victims of the alleged fraud in China have urged negotiations with the UK government to reclaim their stolen assets.
Bitcoin Market Update
As of press time, Bitcoin is trading at $68,150, consolidating above the $70,000 milestone.
