UK prosecutors are difficult the claims of a British-Chinese language nationwide who says she had “no thought” she was a part of a $6.3 billion Bitcoin cash laundering plot.
The 42-year-old twin nationwide Jian Wen has pled not responsible to 3 counts of cash laundering on behalf of her former employer, Yadi Zhang, in accordance with a report by Monetary Instances.
Authorities in Beijing allege Zhang looted $6.3 billion from numerous acts of funding fraud between 2014 and 2017. She is at the moment on the lam.
Wen admits she managed one in every of three wallets tied to the theft, however says she didn’t know its contents had been ill-gotten. She informed the Southwark Crown Court docket in London: “I didn’t know or suspect that the bitcoin was from the crime. No thought in any respect.”
Wen labored in a takeaway store when she first met Zhang in a London resort after making use of to be her butler in 2017 . She claims Zhang informed her she ran antiques and jewelry companies within the Far East. Zhang mentioned she wished to broaden into the UK and employed Wen to assist. The pair moved right into a $17,000 a month, six-bedroom mansion within the British capital a couple of weeks later.
Wen claims the pair final spoke in October 2020, one evening earlier than Zhang skipped her police interview. British prosecutors say Wen’s earlier Google searches point out issues about suspicion of cash laundering and extradition procedures for prison offences.
Zhang’s Bitcoin Laundering Comes To Mild
The case hit the press on the finish of final yr though the investigation has been ongoing for over half a decade.
In 2018, Metropolitan police raided the duo’s Hampstead mansion and seized over 61,000 Bitcoin, valued $1.7 billion on the time ($2.5 billion at this time), from a protected deposit field containing 4 {hardware} wallets. The police efficiently recovered the cryptocurrency from the units in 2021.
Prosecutor Gillian Jones says Zhang fled to the UK beneath a false identification in 2017 when Chinese language authorities began investigating her scheme. Native authorities arrested a few of her gang, however Zhang stays at massive.
Jones alleges Wen acted as a “entrance particular person” for Zhang, utilizing crypto to disguise the stolen cash and switch it out of China.
Upon Zhang’s arrival in London, she transformed the funds into fiat or different high-value belongings comparable to property or jewelry, he defined.
The court docket heard how the pair travelled round Europe and acquired superb jewelry. Wen additionally tried to purchase luxurious houses, together with a £23.5 million seven-bedroom London mansion with a swimming pool, and a £12.5 million eight-bedroom dwelling with a gymnasium and cinema.
Whereas Wen doesn’t dispute her involvement in coping with Bitcoin, the jury will decide whether or not she knew or suspected that the Bitcoin she dealt with constituted the proceeds of against the law.
Wen’s trial will conclude in March.