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.
The order comes as part of a Confiscation Order following a money laundering conviction. Wen, 42, was previously sentenced to six years and eight months in prison at Southwark Crown Court after being linked to a cryptocurrency wallet containing 150 Bitcoin—worth nearly $15 million at today’s prices.
“Prosecutors told the court the sheer scale of the seized Bitcoin, the lack of any legitimate evidence for how it was acquired, all indicated that it was criminal property,” a recent Crown Prosecution Service (CPS) announcement reads. The CPS did not immediately respond to a request for further comment from Decrypt.
UK Police, National Crime Agency Gain New Crypto Seizure Powers
The UK's National Crime Agency (NCA) and police have been granted greater powers to "seize, freeze and destroy" crypto used by criminals. According to a press release from the UK government, the new powers—which come into force today—mean that police will no longer be required to make an arrest before seizing crypto from a suspect. Police will also be able to seize items such as written passwords or memory sticks that "could be used to give information to help an investigation." Police officers...
The news follows the UK's National Crime Agency (NCA) and police being granted greater powers to "seize, freeze and destroy" crypto used by criminals last year.
Crypto crime has become a growing area of concern for the UK. A report released in August 2024 found that as much as $5.1 billion worth of illicit crypto transactions are linked to the country annually.
$5.1 Billion in Illicit Crypto Transactions Linked to UK Every Year: NCA
A new report from the UK's National Crime Agency has found that as much as $5.1 billion worth of illicit crypto transactions are linked to the country every year, with both digital and crypto related crime on the rise. The agency's findings were published in its annual National Strategic Assessment, which draws on data from law enforcement, government, and private intelligence. “As the popularity of cryptocurrency grows, so too does the frequency of cryptocurrency crime,” the report stated. The...
The Metropolitan Police seized Bitcoin wallets with an initial estimated value exceeding £300 million ($364.75 million) in an investigation related to Wen, saying there was no legitimate explanation for the funds' presence.
In 2019, police say Wen purchased two properties in Dubai worth more than £500,000. She claimed to have worked for a Chinese national who asked her to make the purchases and denied that the funds were crime proceeds.
The court determined Wen had profited £3,500,113 from criminal conduct, with available assets valued at £3,126,572. She must pay this amount within three months or face a possible additional seven-year prison term to her six years and eight months sentence. If further assets are discovered, she will remain liable for the difference between the total benefit and the current Confiscation Order.
Edited by Stacy Elliott.
