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Kinne sentenced to almost seven years in prison for money laundering in the billions range

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A woman has been sentenced to almost seven years in prison in London for laundering huge sums of bitcoin from a fraud case originating in China. Photo: Gorm Kallestad / NTB

Of NTB | 24.05.2024 16:27:47

Economy and business: Prosecutors say the 42-year-old woman helped hide the origin of billions of dollars allegedly stolen from 130,000 Chinese investors between 2014 and 2017.

Wen has been convicted of exchanging bitcoin for cash and property to hide a £5bn fraud gain. She has not been convicted of having contributed to the criminal act itself, which the prosecution believes another woman is behind.

As part of the investigation, British police have seized digital wallets containing over 61,000 bitcoins, the largest seizure of cryptocurrency ever in the world. When this seizure was made in 2021, the value was £1.4 billion. Today, the value is over £3 billion, it emerged during the trial.

The 42-year-old woman pleaded not guilty to three charges related to bitcoin and told the court she did not know the cryptocurrency stemmed from a fraud case. She was found guilty of a fourth count of money laundering and sentenced to 80 months in prison.

(© NTB)

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