TechFlow news — According to the UK's Financial Times, 42-year-old WEN JIAN has been charged with three counts of money laundering for allegedly assisting a Chinese woman named Yadi Zhang in laundering illicit funds.
Prosecutors told the court that between 2014 and 2017, Zhang stole approximately £5 billion from over 128,000 Chinese investors through a wealth management fraud scheme, converted the proceeds into bitcoin, and arrived in London in 2017 under a false identity. Wen is accused of helping convert some of this bitcoin into cash, jewelry, other luxury goods, and property.
At the opening of the trial, prosecutors told the jury that while WEN was not involved in ZHANG’s original fraud, he did not raise objections to conducting bitcoin transactions on her behalf.
