Financial Times: British police seize nearly $1.8 billion in Bitcoin from a Chinese investment fraud case

2024-02-01 00:00:21

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According to ChainCatcher news, the Financial Times reported that British police seized nearly $1.8 billion worth of Bitcoin (BTC) from a Chinese investment fraud case. The Southwark Crown Court learned that the defendant Jian Wen is accused of laundering money on behalf of her former employer Yadi Zhang (real name Qian Zhiming).

In 2018, British police seized four devices containing over 61,000 Bitcoins, which were valued at £1.4 billion when fully recovered in July 2021. Yadi Zhang stole approximately £5 billion from over 128,000 investors and subsequently converted it into Bitcoin. Yadi Zhang is currently at large, and Jian Wen denies the related charges; she is on trial for allegedly assisting in converting some of Yadi Zhang's Bitcoins into cash, property, jewelry, and other luxury items.

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