According to Cointelegraph: In a groundbreaking case, the Southwark Crown Court found Jian Wen, a hospitality worker, guilty of laundering money, supposedly the largest seizure of its kind in the history of the United Kingdom. Wen was found guilty of laundering $2.5 billion using Bitcoin to purchase multi-million pound houses and jewellery.
During the investigation, 48 electronic devices were scrutinized and several thousands of digital files, mostly translated from Mandarin, were analysed. Wen had supposedly transitioned from living in a flat above a Chinese restaurant in 2017 to renting a $21,420-per-month six-bedroom house in North London, which brought her under the authorities' radar.
Wen's attempted acquisition of a $30 million mansion in London triggered the authorities to investigate her activities further. Despite maintaining that her earnings came from Bitcoin mining, she faced hurdles in bypassing money laundering checks even as she attempted to purchase several expensive homes in London.
The UK police deemed the seizure as the country's largest to date. Wen was convicted of "entering into or becoming involved in a money-laundering scheme" and will be sentenced on May 10. Chief Crown Prosecutor Andrew Penhale emphasized the growing usage of digital currencies like Bitcoin by organized criminals to conceal and transfer their assets. However, the United States Treasury Department recently cast doubt on claims that crypto is a preferred method of money laundering, contending that traditional cash is still the most sought-after medium.
