Sigh, the medias always use Bitcoin as a headline, reading the title it sounds like Bitcoin should be blamed since it was being used for money laundering. While she's just converting the money to Bitcoin and then use it to buy luxury houses, if Bitcoin is the best way to launder money, she wouldn't get caught.
However, six years and eight months for $5 Billion is a good deal, she might not able to earn $5 Billion even she work very hard for seven years.
Topic: [Bitcoin] woman found with £2bn worth of bitcoin - page 3. (Read 618 times)
There are plenty of articles that explain more, such as this CoinDesk article:
Wen was accused of laundering BTC on behalf of Yadi Zhang, whose real name is Zhimin Qian.
Zhimian is alleged to have defrauded around 130,000 investors in China in an investment scam that brought in $5 billion.
Zhimian is alleged to have defrauded around 130,000 investors in China in an investment scam that brought in $5 billion.
According to the investigations, she is linked to a wider fraudulent scheme that originated from China. And it involves more than 61,000 Bitcoin. And spending proceeds of crime money makes her accomplice in it.
So basically she's a front for the operation and they've chosen UK as the place to clean their money through this means, is that correct? 61k bitcoin is just a really huge number, I do feel like there's more to this than just a syndicate and I think that there's a Chinese government involvement here because there's no way that they're letting this 2 billions pounds worth of bitcoin get laundered unnoticed, I think that it's the Chinese government that's got this operation when you try and dig through it.I think, she has some assets she sold some years ago that gave her some huge amount of capital to invest in Bitcoin, that made her to achieved the €2b worth of Bitcoin. The mistakes she made is to released all her Bitcoin to acquired those assets in her country when she knew that Bitcoin is illegal in that particular country, because the amount of funds she use to purchased all those assets at once, it will make the government to suspect her for money laundry. I don't think, the six years in prison will make her to forget her mistakes she made to released all her Bitcoin to loss all her life savings to government, because it will be very hard for her lawyer to win such case for her favourite.
If you've read what @Davidvictorson posted, you'd know that she's already a part of a money laundering scheme that aims to clean those bitcoins and avoid as much tax as possible through various ways of cleaning those bitcoins, that's why she got those properties to make it look like the money came from real estate or something. 
I think, she has some assets she sold some years ago that gave her some huge amount of capital to invest in Bitcoin, that made her to achieved the €2b worth of Bitcoin. The mistakes she made is to released all her Bitcoin to acquired those assets in her country when she knew that Bitcoin is illegal in that particular country, because the amount of funds she use to purchased all those assets at once, it will make the government to suspect her for money laundry. I don't think, the six years in prison will make her to forget her mistakes she made to released all her Bitcoin to loss all her life savings to government, because it will be very hard for her lawyer to win such case for her favourite.
yhiaali3, OcTradism, btc78, and any other person who may have more questions to ask there is more to it:
According to the investigations, she is linked to a wider fraudulent scheme that originated from China. And it involves more than 61,000 Bitcoin. And spending proceeds of crime money makes her accomplice in it.
This news source added more details - https://africa.businessinsider.com/news/former-chinese-takeaway-worker-jailed-for-money-laundering-after-police-seized-61000/7zb0m8r
According to the investigations, she is linked to a wider fraudulent scheme that originated from China. And it involves more than 61,000 Bitcoin. And spending proceeds of crime money makes her accomplice in it.
Quote
The subsequent investigation culminated in police seizing devices containing 61,000 bitcoins — currently worth more than $4 billion — in 2018, in what was the UK's largest-ever crypto seizure.
The funds are said to have come from an investment fraud operation in China led by her "employer," Yadi Zhang.
In her sentencing remarks, Judge Sally-Ann Hales, KC, said that more than 128,000 investors pumped 40 billion Renminbi (roughly $5.6 billion) into the scheme.
"Some of the proceeds of this fraud were exchanged for bitcoin, loaded onto a cryptocurrency wallet and smuggled out of China on a laptop," she added.
The funds are said to have come from an investment fraud operation in China led by her "employer," Yadi Zhang.
In her sentencing remarks, Judge Sally-Ann Hales, KC, said that more than 128,000 investors pumped 40 billion Renminbi (roughly $5.6 billion) into the scheme.
"Some of the proceeds of this fraud were exchanged for bitcoin, loaded onto a cryptocurrency wallet and smuggled out of China on a laptop," she added.
This news source added more details - https://africa.businessinsider.com/news/former-chinese-takeaway-worker-jailed-for-money-laundering-after-police-seized-61000/7zb0m8r
As bitcoin slowly but surely becomes used for transactions(and it will mostly happen first for more expensive things like in this case), the more stories like this would become far more common.
Idk, it just makes far more sense if you want to transact "in private" lol.
Idk, it just makes far more sense if you want to transact "in private" lol.
The ready charge for anyone found working with cryptocurrencies for large amounts will be money laundering. I really don't know whether this woman laundered money or did she just buy luxury homes and jewelry worth millions of pounds sterling?
There is nothing in the news that indicates that she robbed an exchange or another service or committed fraud. There are no details about the source of her money. Perhaps her crime is only that she converted this large amount of Bitcoin into the equivalent of about 2 billion pounds sterling, which is a very large sum that would attract the attention of the police.
There is nothing in the news that indicates that she robbed an exchange or another service or committed fraud. There are no details about the source of her money. Perhaps her crime is only that she converted this large amount of Bitcoin into the equivalent of about 2 billion pounds sterling, which is a very large sum that would attract the attention of the police.
"Jian Wen, 42, was involved in converting Bitcoin into assets like luxury houses.
This link has very little information and you can get more detail there.Woman found with £2bn in Bitcoin convicted of money laundering arrangement offence
This gives some more information but still not clear enough. Information like she claims to get money from Bitcoin mining, then buy luxury things, jewellery from her illegal money.
I don't see the article has details about here criminal activities, maybe more details will come later when government completes their investigation on this case.
What I am wondering about is why did she have to launder the money? Is it because she did not want to pay taxes? I would be interested to hear how she got that €2bn worth of bitcoin. How did she start? Did she just hold for a really long time? And a lot of other questions. Anyway it’s a shame to have finally all that amount of money just to go to jail.
"Jian Wen, 42, was involved in converting Bitcoin into assets like luxury houses.
A former takeaway worker found with Bitcoin worth more than £2bn was jailed for six years and eight months for a crime linked to money laundering on Friday. Jian Wen, 42, from Hendon, in north London, was involved in converting the currency into assets including multi-million-pound houses and jewellery.
At Southwark Crown court in March, she was convicted of entering into or becoming concerned in a money laundering arrangement.The Metropolitan Police said at the time of the conviction the seizure was the largest of its kind in the UK."
When I came across this news on a bbc.com website I couldn't believed it but was moved to share over here to know her involvement as when she started making investment to have worth almost €2b worth in bitcoin, most times it's hard to believe story like this.
The floor is open for discussion (if this already discussed then remind me to Lock this topic).
A former takeaway worker found with Bitcoin worth more than £2bn was jailed for six years and eight months for a crime linked to money laundering on Friday. Jian Wen, 42, from Hendon, in north London, was involved in converting the currency into assets including multi-million-pound houses and jewellery.
At Southwark Crown court in March, she was convicted of entering into or becoming concerned in a money laundering arrangement.The Metropolitan Police said at the time of the conviction the seizure was the largest of its kind in the UK."
When I came across this news on a bbc.com website I couldn't believed it but was moved to share over here to know her involvement as when she started making investment to have worth almost €2b worth in bitcoin, most times it's hard to believe story like this.
The floor is open for discussion (if this already discussed then remind me to Lock this topic).
Jump to: