Chinese National on Trial in UK for Alleged $6.5 Billion Bitcoin Fraud

A Chinese national named Wen Jian is facing trial in the UK for allegedly laundering money from a $6.5 billion fraud scheme involving Bitcoin. The accused reportedly converted BTC into cash and property to hide the fraudulent sources of the money stolen from over 100,000 Chinese residents between 2014 and 2017. Jian is facing three counts of money laundering, but prosecutors are not alleging her involvement in the initial fraud. The orchestrator of the fraud, identified as Qian Zhimin or Zhang Yadi, fled to Great Britain under a fake name after Chinese authorities began investigating the case in 2017.