Bitcoin

Billion

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A 42-year-old British-Chinese woman who pleaded guilty to converting Bitcoin into various assets, including real estate and jewelry, has been sentenced to six years and eight months behind bars, Reuters&nbsp;<a href="https://www.reuters.com/world/uk/woman-jailed-laundering-bitcoin-uk-64-bln-china-fraud-2024-05-24/">reports</a>.&nbsp;&nbsp;
Jian Wen was initially facing up to 14 years behind bars on various charges. She was found guilty on one money laundering-related charge in March.&nbsp;
When her house was searched back in 2018, the Metropolitan Police and a money-laundering investigator discovered a safety deposit box with 61,000 Bitcoins.&nbsp;
Yadi Zhang, Wen's housemate, disappeared after the search. It turned out that she was the mastermind behind a massive money laundering scheme after defrauding 130,000 Chinese investors and fleeing to the UK.&nbsp;
Wen, a former takeaway worker, was hired by Zhang in order to use her as her "front person." The latter claimed that she was in charge of the jewelry business.&nbsp;
Detectives discovered that Zhang, whose real name is Zhimin Qian,&nbsp;had crazy fantasies about becoming the queen of a small European country. She was prepared to spend at least a whopping $5 million on her crown, according to the personal diaries of the criminal mastermind.&nbsp;
Wen, who used to be a takeaway worker, insisted that she was not aware of the massive fraud scheme. According to Wen, Zhang told her that she was "independently wealthy." She insisted that she simply wanted a better future for her son, who started attending a private school.&nbsp;
Zhang reportedly managed to flee with roughly $250 million. The "supervillain," who remains at large, has been slapped with an Interpol red notice.&nbsp;

$6 Billion Fraud and Bitcoin Money Laundering: Woman Gets Jail Sentence

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