“BTC stock? The British government may well hold most of the bitcoins (BTC) of $ 7 billion, which it has withdrawn as part of a large -scale fraud from China. This decision occurred after the condemnation of Zhimin Tsani, a probable organizer of the scam, who pleaded guilty this week. Although victims demand justice, the British authorities seem to be tuned to keep these tremendous funds […]”, – WRITE: Businessua.com.ua
BTC stock? The British government may well hold most of the bitcoins (BTC) of $ 7 billion, which it has withdrawn as part of a large -scale fraud from China. This decision occurred after condemnation of Zhiminin Qiana, the probable organizer of the scam, which this week pleaded guilty . Although victims require justice, the British authorities seem to be set to keep these tremendous means in their hands.
The key points of this article:
- The British Government has confiscated bitcoins worth 7 Billions of dollars after fraud by China organized by Zhiminim Tsaene.
- As the victims require justice, there is a court battle on the horizon to return these tremendous funds.
Mass fraud, victims are waiting for justice and bitcoin Between 2014 and 2017, Zhimin Tyan organized Large -scale investment fraud Converting illegally received funds into bitcoin. In 2018, the British authorities withdrew 61 000 BTC but the question remains open, and the press repeats it: who will save this money? In view of the above 120,000 victims in China the pressure on the return of funds to the system of justice is increasing, but everything is not so easy.
The royal prosecutor’s office began Civil proceedings on recovery but the next hearing is planned only for January . Victims that lost about £ 640 million (about 735 million euros) hope to return their money Or even more, depending on the current value of bitcoin.
According to Ashley Fairbrazer, a partner of the Law firm Edmonds Marshall McMahon, the victims have the right to demand these funds. “I am not sure that English legislation is here on the side of the British government,” – He said. In his opinion, victims They can use Article 281 of the 2002 criminal law income to defend their rights.
Keep or sell confiscated bitcoins? This is a $ 7 billion in front of the British justice system.
The United Kingdom faces the legal dilemma and its old demons Thus there are two scenarios : or victims reimbursed the cost of their losses in Pounds of sterling or they receive All of the BTC removed . In the first case, the British government may benefit from the bitcoin growing growth since 2018.
But if government will decide sell BTC he can repeat 1999 error when sold a part of their gold reserves at a funny low price. At that time, this decision cost the British treasury of billions. Currently some anonymous Treasury officials are wondering if this sale will be able to fill “Black hole” In public finances worth from $ 34 to $ 67 billion.
Victims, William Glover and Stephen Cartwright insist on frozen bitcoins “Do not belong to the British state.” They add that the government “He has no right to freely dispose of these frozen bitcoins to the detriment of the legal and property interests of the victims.”
Although the British government seems to be ready to save these billions in bitcoins, victims, some of which have lost all their savings, desperately strive for justice. A ripening trial can review how states dispose of funds withdrawn in criminal cases, Especially when these funds are in the form of cryptocurrencies.
Source: Journalducoin.com
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