UK Bitcoin Scandal: Officer Charged with Stealing £3.2 Million Worth of BTC
by aria-crypto.com
March 16, 2025 at 03:08
UK Bitcoin Scandal: Officer Charged with Stealing £3.2 Million Worth of BTC
The UK Crown Persecution Service (CPS) has charged a National Crime Agency (NCA) officer, Paul Chowles, with the theft of 50 Bitcoin, valued roughly at £3.2 million today. The indictment is part of the UK's ongoing efforts to establish a robust legal framework for cryptocurrencies. Chowles, 42, from Bristol, allegedly appropriated the Bitcoins during a 2017 investigation into online organized crime. The CPS has lodged 15 charges against him, including offences related to money laundering and theft, highlighting serious potential penalties. Money laundering charges may lead to 14 years in prison per count, while theft could result in up to seven years. Scheduled to appear at Liverpool Magistrates’ Court on April 25, 2025, Chowles faces theoretical imprisonment for over 200 years if found guilty on all counts. As this case proceeds, the UK continues to enhance its crypto regulatory environment, with new consultations on stablecoins expected before the first quarter of 2025. Meanwhile, Bitcoin’s market value has recently increased, trading at $84,391 after a 4.30% rise.
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