A UK court found the individual guilty for defrauding more than $6 billion and attempting to launder these assets through Bitcoin.
Chinese citizen and defendant in the UK, Jian Wen, has been found guilty by the court. According to the court documents published in January, Jian Wen was accused of aiding and abetting his Chinese employer Yadi Zhang in money laundering.
Related article: $6.3 Billion Money Laundering Case in Bitcoin: 128,000 Chinese defrauded!
According to the court file, from 2014-2017, Jian Wen’s boss Yadi Zhang made unfair profit of 6.3 billion dollars by defrauding more than 128,000 investors, and later, most of this money was converted to Bitcoin through Wen. Following these operations, Zang went to England with a fake passport and fled the country when things went wrong.
The London jury found that Jian Wen, who denied the allegations, assisted in laundering the funds between 2017 and 2022. In 2018, the UK police seized $2.2 billion worth of Bitcoin in an operation related to the alleged fraud. It was proven that these Bitcoins were acquired by Jian Wen with fraudulently laundered money.
Jian, who is currently in prison, will be sentenced during a hearing on May 10.
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