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On January 31st, British authorities disclosed the unearthing of $1.7 billion worth of Bitcoin linked to a woman accused of laundering funds in connection with a $6 billion investment fraud in China.
Jian Wen, a 42-year-old UK citizen, vehemently denies any involvement in the alleged money laundering associated with Zhimin Qian, a fugitive sought in China for orchestrating a fraudulent scheme that affected around 130,000 investors. Zhimin, also known as Yadi Zhang, remains at large.
Details of the case emerged during a 2018 police raid at their rented London manor, where investigators found laptops, pen drives, and notebooks containing saved passwords and crypto wallets holding Bitcoin valued at hundreds of millions of dollars each, according to the prosecuting lawyer.
Gillian Jones, representing the prosecution, informed the jury that Yadi Zhang was present during the raid but managed to escape the UK afterward. The investigation was sparked by Jian’s unsuccessful attempts to acquire two London houses, valued at a total of approximately $45 million. Her failure to provide adequate proof of the funds’ source to a lawyer involved in the transactions resulted in the thwarted property acquisitions.
In 2017, prosecutors claim that Jian asserted to her lawyer that Zhimin had mined and “gifted the Bitcoins” to her as a “love present,” referring to the purchased house as their “first home.” The prosecution contends that Jian researched online methods for utilizing Bitcoin in UK property transactions and explored selling Bitcoin without the need for proof of funds.
As the legal proceedings unfold, Jian Wen faces scrutiny while maintaining her denial of any involvement in the money laundering allegations tied to the global fraud scheme. The ongoing investigation also unveils that in 2019, a Dubai-based investment adviser offered Jian Wen an alternative channel for selling Bitcoin for cash locally.
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In a statement given to the police in 2019, Jian asserted that she lived with Zhimin as a caretaker and translator, receiving a gift of 3,000 Bitcoins in return. At that time, she claimed to have a limited understanding of Bitcoin and believed it to be the source of Zhimin’s wealth.
