Woman who allegedly tried to launder $6,500,000,000 worth of Bitcoin (BTC) goes on trial in London: report

A Chinese national is reportedly facing trial in the UK over an alleged $6.5 billion Bitcoin (BTC)-related scam.

According to a new Reuters report, the defendant converted BTC into cash and property to launder money from a scheme carried out in China.

A woman, identified in the report as Wen Jian, is accused of attempting to conceal the fraudulent sources of money allegedly stolen from over 100,000 Chinese residents between 2014 and 2017.

Jian now faces three counts of money laundering, which she denies. The public prosecutor's office does not allege that the 42-year-old was involved in the first fraud.

According to London prosecutor Gillian Jones, the initiator of the scam was also a beneficiary, identified as Qian Zhimin, a woman also known as Zhang Yadi.

After Chinese authorities began investigating the fraud in 2017, Zhang fled to the UK under the aforementioned fake name. While many involved in the fraudulent scheme have been arrested in China, Zhang's whereabouts are still unknown.

According to the report, defrauded Chinese investors have not yet gotten their money back.

According to prosecutors, Wen acted as a “front person” to help conceal the source of the illegally obtained funds. Zhang planned to launder the funds through BTC and other assets.

Now a jury will decide whether Wen knew the money was stolen or not.

The process is expected to be completed by the end of March.

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