Ex-Takeout Driver Ordered to Compensate$ 3.8 Million After Bitcoin Money Laundering Conviction

Jian Wen, a former U. K. takeaway worker convicted of money laundering Bitcoin, must pay over$ 3.78 million ( £3.1 million ) or risk serving an additional seven years in prison.

Following a faith for money laundering, the order forms part of a Confiscation Order. After being linked to a wallet containing 150 Bitcoin, which is valued at nearly$ 15 million at the moment’s prices, Wen, 42, was previously given a six-year and eight-month prison sentence at Southwark Crown Court.

In a recent Crown Prosecution Service ( CPS) announcement, the prosecution claimed that the sheer size of the seized Bitcoin and the lack of any legitimate grounds for its acquisition all indicated that it was criminal property. contacted the CPS for more information, but the CPS did not respond right away.

The news comes after the National Crime Agency (NCA ) and police in the UK were given more authority to” seize, freeze, and destroy” crypto used by criminals last year.

The UK is increasingly concerned about crypto violence. According to a report released in August 2024, up to$ 5.1 billion in illicit blockchain transactions are connected to the nation each year.

In a Wen-related investigation, the Metropolitan Police seized Bitcoin wallets with an initial estimated value of more than £300 million ($ 364.75 million ), claiming there was no valid justification for the funds ‘ presence.

Wen, according to authorities, purchased two properties in Dubai worth more than £500,000. She claimed to had worked for a Chinese nationwide and that she was asked to make the payments, but she denied that the money were violence money.

The jury determined Wen had profited £3, 500, 113 from legal do, with applicable property valued at £3, 126, 572. She may make payment of this sum within three months, or she could receive an additional seven years in prison for her six-year, eight-month word. She will continue to be liable for the difference between the total profit and the latest Confiscation Get if additional resources are discovered.