Jian Wen Launders Money In Bitcoin Up To Billions Of Dollars

Jian Wen did money laundering in Bitcoin for billions of dollars (Photo; Doc. Moonstone)

JAKARTA - An English-China woman, Jian Wen, was found guilty of her role in the laundering scheme resulting from Bitcoin fraud worth US$6 billion (around Rp97.4 trillion). The sentence imposed on her, six years and eight months in prison, is clear evidence of legal seriousness in dealing with digital financial crimes.

Jian Wen, 42, is involved in a fraudulent scheme led by his former boss, Yadi Zhang, also known by his real name, Zhimin Qian. The scheme managed to withdraw funds from around 130,000 investors in China, with a total accumulation of 5 billion US Dollars (around Rp. 81.1 trillion). Although Wen was not accused of being directly involved in the scam, he was convicted of washing the proceeds of fraud by converting Bitcoin into cash and using the funds to buy property, jewelry, and other luxury items.

In 2018, British police confiscated more than 2.2 billion US Dollars (approximately IDR 35.7 trillion) in Bitcoin related to the scam in a massive operation. This confiscation is the largest in the UK, showing the authorities' serious efforts to deal with crypto-asset-related crimes.

According to information from CryptoPotato, during the trial, lawyer Wen claimed that his client had been 'deceived and exploited' by his boss, stating that Wen was not aware of the criminal origin of Bitcoin that he was managing. However, a judge at the Southwark Crown Court rejected this claim and stated that evidence shows Wen is fully aware that he is washing the proceeds of crime.

The judge also highlighted Wen's complicated and planned nature of the money laundering operation. He emphasized that Wen's actions were part of a large scheme designed to hide and transfer illegal assets.

With the increasing number of criminal entities using crypto assets to disguise and transfer illegal assets, British authorities are determined to take firm action against this kind of activity. The main investigators in this case stated that they "do not leave the stone behind" to arrest perpetrators who exploit crypto assets for illegal purposes.