Woman Arrested as Police Seize £115,000 in Stolen Bitcoin
A 35-year-old woman was arrested on Wednesday, 12 August, after detectives from the Met’s Proactive Money Laundering Team uncovered her control of thousands of pounds worth of fraudulently obtained cryptocurrency.
Fraudulent Bounce Back Loans Laundered Into Bitcoin
Met officers launched the probe after discovering the suspect used multiple mule bank accounts to cash in on fake ‘Bounce Back Loans’—a Government scheme to support small businesses during the COVID-19 crisis.
Money from these fraudulent applications was transferred into her cryptocurrency wallet, sparking a full-scale investigation.
Ipswich Raid Finds Woman Near Home with Children Alone
On 12 August, Met officers, backed by Suffolk Constabulary’s Proactive Crime Team, executed a search warrant at the woman’s Ipswich home. Several children were found left unattended.
The woman was arrested nearby on suspicion of fraud, money laundering, and child neglect. She was taken to a police station and later released under investigation.
£115,000 of Bitcoin Frozen as Investigation Ramps Up
The following day, detectives secured a court order to seize £115,000 worth of cryptocurrency held in the suspect’s wallet. The investigation is ongoing.
Detective Sergeant Ian Barrett said: “I would implore people to be careful about what personal and banking information they give out online or over the phone. If you feel your bank account is being used by others, promptly report it to your bank and Action Fraud.”
“For people to take advantage of Government support available to those who really need it in these unprecedented times is appalling. The Met remain committed to working with financial institutions and law enforcement partners to tackle organised financial crime and bring these serious criminals to justice.”
