A woman from the United Kingdom named Wen was charged with laundering money that she received from the dark web for almost seven years, using cryptocurrencies to buy cash and property worth $6. 4 billion fraud.
Jian Wen was charged with one count of money laundering, and after being tried on Friday, he was sentenced to six years imprisonment, as Bloomberg reported.
Woman Found Guilty in One of the Largest Crypto Seizure
Wen, 42, was convicted of one count of money laundering in March last year at Southwark Crown Court. She dismissed three counts by alleging that she did not know that Bitcoin was associated with vice. The jury was unable to agree on the two other counts.
When delivering the sentence on Friday, May 24, judge Sally-Ann Hales described the offense as sophisticated and entailed planning. Perhaps Jian Wen did not know that Meng was engaging in criminal activity.
In the process of investigation, the British police have confiscated more than 61,000 bitcoins. They were valued at approximately £1 at the time. 4 billion. Today, they are valued at over £3 billion.
North Korea Linked to New Crypto Laundering Case
The United Nations agency stated that in a filed document, North Koreans are associated with a $147. 5 million crypto laundering cases Today. This crime was also said to have been made possible through the virtual platform known as Tornado Cashback in March.
In other news, on April 19, Hong Kong police arrested three suspects who operated an alleged cryptocurrency money laundering scheme estimated at $230 million.
In a press release on May 17, Binance revealed that they collaborated with Taiwan’s Ministry of Justice Investigation Bureau and the Taipei District Prosecutors Office to crack down on a $ 6 million cryptocurrency money laundering case.
