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A UK court has found guilty an individual who defrauded more than $6 billion and tried to launder those assets through Bitcoin.

Jien Wen, a Chinese national on trial in the UK, was found guilty by the court. Court files published in January alleged that Jian Wen assisted his Chinese boss, Yadi Zhang, in money laundering.

The court documents revealed that Jian Wen’s boss, Yadi Zhang, defrauded more than 128,000 investors between 2014 and 2017, accumulating over 6.3 billion dollars in illicit profits, and then converted most of this money to Bitcoin through Wen. Zhang subsequently went to the UK with a fake passport and fled the country when things went sour.

The London jury found that Jian Wen, who denied the allegations, helped his former employer launder funds between 2017 and 2022. In 2018, the UK police seized around $2.2 billion worth of Bitcoin in an operation related to the alleged fraud. It was proven that these Bitcoins were purchased with the fraudulently obtained funds laundered by Jian Wen.

Jian, who is currently in custody, will be sentenced during a hearing on May 10.

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