In a sensational case, a 42-year-old woman who previously lived above a Chinese takeaway restaurant has been convicted of money laundering after being involved in a major fraud case. Jian Wen, who lives in Parade Mansions, Hendon, was caught with more than £3.4 billion worth of Bitcoin, marking the largest seizure of Bitcoin in Britain to date.

Involved in criminal network

The court heard Wen originally lived a modest life in Leeds, with an income of just several thousand pounds a year, before her life took a luxurious turn. She became involved in a criminal network and helped convert cryptocurrencies into luxury goods, including multi-million pound homes and precious jewellery.

In 2017, Wen made a remarkable move to a six-bedroom home in Hampstead, renting more than £17,000 a month, and posed as the frontman of a successful international jewelery company. Her involvement in attempts to purchase expensive homes in London eventually aroused suspicion, especially when she attempted to purchase a mansion in Hampstead worth £23.5 million.

Conviction for role in extensive money laundering operation

The Metropolitan Police and the Crown Prosecution Service (CPS) have now convicted Wen for her role in this elaborate money laundering operation. On May 10, she will be convicted of laundering 150 Bitcoin, worth around £7.5 million. This is part of a broader investigation that led to the seizure of more than 61,000 Bitcoin.

This case highlights the increasing role of cryptocurrencies such as Bitcoin in organized crime and money laundering. Chief Prosecutor Andrew Penhale underlined the seriousness of the case and the authorities’ commitment to seize and confiscate the proceeds of criminal activities. While the original fraudster remains at large, this conviction represents an important step in the fight against financial crime.


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