A Chinese woman living in London was accused of laundering $6.3 billion worth of bitcoins allegedly obtained by her friend from investment fraud. This is reported by Law360.
According to the British prosecutor's office, 42-year-old Jian Wen converted cryptocurrency into cash, real estate, jewelry and other luxury goods.
The surgeries were performed for Zhimin Qian. The latter allegedly defrauded 128,000 investors in China from 2014 to 2017, then transferred funds to bitcoins and fled to London under an assumed name-Yadi Zhang.
In turn, Wen moved to the UK in 2007 and before meeting Zhang worked in Chinese takeaway restaurants, living in "relatively modest housing". In 2017, they rented a six-bed North London mansion together. In 2018, Wen became a British citizen. Zhang later fled the country and is still at large.
Wen does not dispute the conduct of bitcoin transactions in favor of a friend for a fee, but denies any connection with fraud. She describes herself as Zhang's "guardian" and claims that Zhang was a wealthy businesswoman who made a fortune in the jewelry business, real estate, and legal mining.
The jury will have to determine whether Wen knew that the bitcoins converted to her were of criminal origin.
The court hearings will last until March.
According to the British prosecutor's office, 42-year-old Jian Wen converted cryptocurrency into cash, real estate, jewelry and other luxury goods.
The surgeries were performed for Zhimin Qian. The latter allegedly defrauded 128,000 investors in China from 2014 to 2017, then transferred funds to bitcoins and fled to London under an assumed name-Yadi Zhang.
In turn, Wen moved to the UK in 2007 and before meeting Zhang worked in Chinese takeaway restaurants, living in "relatively modest housing". In 2017, they rented a six-bed North London mansion together. In 2018, Wen became a British citizen. Zhang later fled the country and is still at large.
Wen does not dispute the conduct of bitcoin transactions in favor of a friend for a fee, but denies any connection with fraud. She describes herself as Zhang's "guardian" and claims that Zhang was a wealthy businesswoman who made a fortune in the jewelry business, real estate, and legal mining.
The jury will have to determine whether Wen knew that the bitcoins converted to her were of criminal origin.
The court hearings will last until March.
