British-Chinese Woman Sentenced to 6 Years for Laundering Bitcoin in $6B Scam

In a high-profile case involving a large-scale cryptocurrency fraud, a British-Chinese woman, Jian Wen, has been sentenced to six years and eight months in prison for her role in laundering Bitcoin proceeds from a $6 billion investment scam in China.

Wen, 42, was convicted in March of laundering bitcoin on behalf of her former boss, Yadi Zhang, whose real name is Zimin Qian.

According to another a reportQian allegedly defrauded about 130,000 investors in China, raising a whopping $5 billion through the investment scam.

While Wynn was not charged with direct involvement in the scam itself, she was convicted of laundering the proceeds by converting bitcoin into cash and using the money to purchase real estate, jewelry, and other luxury goods.

In 2018, UK police seized more than $2.2 billion in bitcoins related to alleged fraud in a major operation.

During the trial, Wynn's lawyer claimed she had been “deceived and exploited” by her boss, asserting that she was unaware of the criminal origins of the bitcoin she was dealing with.

However, the judge at Southwark Crown Court dismissed these charges and stated directly that the evidence showed that Wynne had full knowledge that she was laundering the proceeds of crime.

The judge also highlighted the complex and deliberate nature of Wayne's money laundering operation.

With criminal entities increasingly using cryptocurrencies to hide and transfer illicit assets, UK authorities have vowed to crack down on such activities, with the lead investigator stating that they will “leave no stone unturned” to catch criminals exploiting cryptocurrencies for illegal purposes.