On Wednesday, January 31, British law enforcement authorities revealed the discovery of Bitcoin valued at $1.7 billion, associated with a woman facing allegations of laundering funds from a $6 billion investment fraud in China.
UK Citizen Denies Money Laundering Allegations
Jian Wen, a 42-year-old UK citizen, is vehemently denying accusations that she played a role in laundering substantial sums of money amassed by Zhimin Qian, a fugitive wanted in China for orchestrating a fraudulent scheme that victimized around 130,000 investors. The current whereabouts of Zhimin, also known as Yadi Zhang, remain unknown.
Details surrounding the case emerged during a 2018 police raid at their rented London manor house, where investigators discovered laptops, pen drives, and notebooks containing saved passwords and crypto wallets with Bitcoin holdings valued at hundreds of millions of dollars each, as stated by the prosecuting lawyer.
Gillian Jones, the lawyer representing the prosecution, informed the jury that during the raid, Yadi Zhang was present at the property but managed to flee the UK afterward.
The investigation was triggered by Jian’s unsuccessful attempts to purchase two London houses, with a combined value of approximately $45 million. Her inability to provide sufficient proof of the source of funds to a lawyer involved in the transactions led to the failed property acquisitions.
Prosecutors allege that Jian, in 2017, asserted to the lawyer that Zhimin had mined and “gifted the Bitcoins” to her as a “love present.” The purchased house was their “first home,” as per Jian’s statements. The prosecution further claims that Jian had researched online methods to use Bitcoin for property transactions in the UK and explored avenues for selling Bitcoin without requiring proof of funds.
As the case unfolds, Jian Wen faces legal scrutiny and maintains her denial of any involvement in the money laundering allegations linked to the international fraud scheme.
Dubai-Based Investment Adviser Offered Bitcoin Transaction Channel
The ongoing investigation also reveals that in 2019, a Dubai-based investment adviser presented Jian Wen with an alternative method for locally selling Bitcoin for cash.
In a statement provided to the police in 2019, Jian asserted that she lived with Zhimin as a caretaker and translator, and in return, she received a gift of 3,000 Bitcoins. Jian stated that back then she had limited understanding of Bitcoin and believed it to be the source of Zhimin’s wealth.
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