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Victims of the Tianjin Electronic investment scam have asked the Chinese Ministry of Foreign Affairs to send a letter to the UK government from more than 2,500 customers demanding the return of confiscated bitcoins.
In 2021, Jian Wen, a former employee of the hotel business, was detained and charged with money laundering in the UK while trying to buy a mansion worth $30 million for bitcoins. The transaction for the purchase of real estate did not take place, as Wen was unable to explain to law enforcement the source of the funds.
After the search, the police confiscated 61,000 BTC from the woman. In March, Southwark Crown Court found Jian Wen guilty of money laundering using bitcoin through the purchase of "multimillion-dollar properties and jewels". The court linked the origin of the funds to the fraudulent crypto investment scheme of the Chinese technology company Tianjin Lantian Gerui Electronic and its likely director Zhimin Qian.
According to court documents, crypto assets were taken from almost 130,000 Chinese investors between 2014 and 2017.
Victims of the fraud drew the attention of the Chinese authorities to the huge economic consequences and personal difficulties, calling on the government of their home country to influence their British colleagues: "So that their voices are heard in the struggle for the return of property."
The UK authorities have not yet revealed their plans for the future of the confiscated bitcoins.
In 2021, Jian Wen, a former employee of the hotel business, was detained and charged with money laundering in the UK while trying to buy a mansion worth $30 million for bitcoins. The transaction for the purchase of real estate did not take place, as Wen was unable to explain to law enforcement the source of the funds.
After the search, the police confiscated 61,000 BTC from the woman. In March, Southwark Crown Court found Jian Wen guilty of money laundering using bitcoin through the purchase of "multimillion-dollar properties and jewels". The court linked the origin of the funds to the fraudulent crypto investment scheme of the Chinese technology company Tianjin Lantian Gerui Electronic and its likely director Zhimin Qian.
According to court documents, crypto assets were taken from almost 130,000 Chinese investors between 2014 and 2017.
Victims of the fraud drew the attention of the Chinese authorities to the huge economic consequences and personal difficulties, calling on the government of their home country to influence their British colleagues: "So that their voices are heard in the struggle for the return of property."
The UK authorities have not yet revealed their plans for the future of the confiscated bitcoins.
