A London court jury has convicted a woman of a large sum of money in connection with a nearly $6 billion investment fraud in China. Bitcoin found him guilty of laundering. The defendant, 42-year-old British citizen Jian Wen, was found guilty of one count of money laundering. However, the jury could not reach a verdict on the other two charges.
Jian Wen was accused of helping a Chinese fugitive launder money between 2017 and 2022. In a 2018 raid on a house in London where Jian lived with Zhimin Qian, police seized 1.7 billion pounds ($2.2 billion) worth of Bitcoin.
Although found guilty, Jian has consistently denied all charges against him. He claimed he was unaware of Zhimin’s alleged fraud in China or that the money he was transacting was fraudulent. It is noteworthy that Jian was not accused of any role in the fraud in China, which prosecutors estimate reached approximately $6 billion.
Zhimin arrived in the UK in September 2017 under the pseudonym Yadi Zhang. However, in 2020, she fled the country just two days before she was to be questioned by London police.
Zhimin was portrayed at the hearing as a “master of tricks” who deceived approximately 130,000 financially savvy and astute investors in China by creating ten investment vehicles managed through seven offices across China.
After the decision was made public, London Metropolitan Police Detective Chief Inspector Jason Prins said, “International criminals are crypto coins “We managed to disrupt a sophisticated economic crime operation that exposed how they tried to exploit it,” he said.
*This is not investment advice.
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