On Friday, a court in London, United Kingdom, sentenced a British Chinese woman to 6 years and 8 months in prison for assisting her employer in money laundering involving Bitcoin.
This case has garnered attention from investors in both countries due to the seizure of 61,000 Bitcoins by the British police and a previous illegal fundraising case worth 40 billion yuan in China.
The judge stated, “I have no doubt that you knew what you were doing.”
According to public records, the defendant, Jian Wen, was born in China. In 2007, she moved to the UK with her husband, Marcus Barraclough, when she was 7 months pregnant. They divorced in 2010 due to her husband’s “violent tendencies,” and Jian Wen raised their son while working and pursuing diplomas in law and economics.
In 2017, while working in a Chinese restaurant and living in a basement in London, Jian Wen saw an advertisement for a “housekeeper” position, and the employer behind it was none other than Qian Zhimin, who used the alias “Yadi Zhang” and was the mastermind behind the illegal fundraising case involving Blue Sky Grid Corporation. According to the police report at the time, the case involved a fund of 43 billion yuan and affected 126,000 investors from 31 provinces, municipalities, and autonomous regions in China.
Shortly before the incident was exposed, Qian Zhimin used a fake passport to escape to London with a laptop containing an encrypted wallet. Due to the language barrier, she urgently needed a Chinese person to handle her daily affairs and convert Bitcoin into real estate, jewelry, etc.
According to the British police, after becoming Qian Zhimin’s assistant, Jian Wen instantly entered a “luxurious lifestyle.” She moved from the basement to a six-bedroom apartment with a monthly rent of £17,000, went on luxury shopping sprees, and began “worldwide travels.” She also purchased properties in Europe and Dubai.
However, when Jian Wen attempted to purchase several London mansions worth millions of pounds, it triggered the UK’s anti-money laundering procedures. Based on her reported income of only £5,979 in 2016/2017 and her inability to explain the source of the Bitcoin used for the property purchases, the British police searched her residence on October 31, 2018, and seized the computer containing the Bitcoin.
Dramatically, the British police did not discover the 61,000 Bitcoins hidden in the computer until two and a half years later. Jian Wen was arrested in May 2021, while Qian Zhimin fled the UK before the police could question her.
After several years of hearings, the jury at the Southwark Crown Court in London reached a verdict in March this year, finding Jian Wen guilty of “money laundering 150 Bitcoins for a Chinese woman” between 2017 and 2022. Jian Wen has consistently denied all charges against her and plans to appeal the conviction.
During the trial on Friday, Jian Wen’s defense lawyer, Mark Harries, argued that Wen was already a victim before becoming a criminal and was undoubtedly deceived and exploited by the so-called “mastermind.” She was merely a “middleman pressing the Bitcoin transaction button” and had limited awareness of the criminal nature of her actions.
Prosecutor Gillian Jones emphasized that Jian Wen was driven by “greed” and her own economic interests, rather than being coerced, threatened, or exploited. She was also the decision-maker in operating her encrypted wallet.
Clearly, Judge Sally-Ann Hales did not accept the defense’s argument. During the sentencing on Friday, she told Jian Wen, “This is a complex and serious crime, and I have no doubt that you knew what you were doing.”
So, what about Qian Zhimin?
After Jian Wen’s arrest, there were no further clues about Qian Zhimin’s whereabouts. However, according to the Financial Times, Qian Zhimin, who had been missing for a long time, returned to London in April this year and was detained and appeared in court to face criminal charges brought by the UK prosecution.
It is reported that the Royal Prosecution Service accused her of possessing, acquiring, and using criminal property, namely those cryptocurrencies, in London and various locations in the UK from October 1, 2017, to April this year.
Interestingly, Qian Zhimin claimed in the information provided to the court that her date of birth was November 10, 1990. However, based on various sources of information, she is actually born in 1978.
Through an interpreter, Qian Zhimin pleaded not guilty in court but did not apply for bail. The judge decided to keep her in custody and transferred the case to the Southwark Crown Court, where Jian Wen was previously tried.
