Within weeks of Yadi Zhang’s arrival in London in September 2017, Jian Wen had left her job and room in a Chinese takeaway and moved into a £5m six-bedroom house near Hampstead Heath.
The women, who claimed to run an international jewellery business trading in diamonds and antiques in countries including Japan, Thailand and China, travelled the world and spent tens of thousands of pounds on designer clothes and shoes in Harrods.
In her newly affluent lifestyle, Wen bought a £25,000 E-Class Mercedes and sent her son to the £6,000-a-term Heathside preparatory school.
But alarm bells rang when she tried to buy some of London’s most expensive properties, including a £23.5m seven-bedroom Hampstead mansion with a swimming pool and a nearby £12.5m home with a cinema and gym.
Wen, who had declared income of just £5,979 in the 2016/17 financial year, could not explain the source of the Bitcoin she would use to pay for the properties and police first raided the women’s home on 31 October 2018.
But it would be another two-and-a-half years before investigators realised they had made the UK’s biggest-ever cryptocurrency seizure when more than 61,000 Bitcoin were discovered in digital wallets.
The cryptocurrency was worth £1.4bn at the time but its value has now risen to more than £3bn, while 23,308 Bitcoin, now worth more than £1bn, linked to the investigation remains in circulation.
The £5bn investment fraud
The Bitcoin came from a £5bn investment scam carried out in China by Zhang, 45, who arrived in the UK on a false St Kitts and Nevis passport after conning nearly 130,000 Chinese investors in fraudulent wealth schemes between 2014 and 2017, a court heard.
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Wen was not alleged to have been involved in the underlying fraud.
Zhang, who is also known as Zhimin Qian (which means money in Chinese) has fled the UK and her whereabouts are unknown.
Wen, 42, has been found guilty of one count of money laundering between October 2017 and January 2022 and the jury failed to reach verdicts on two similar counts following a trial at Southwark Crown Court.
Prosecutors are not seeking a retrial and Wen will be sentenced on 10 May.
Image: The women rented a £17,000-a-month house in Hampstead. Pic: CPS
She was acquitted of 10 other money laundering charges at a trial last year, which could not be reported over fears hackers could target the firm holding the seized cryptocurrency if the figures involved were made public.
As a Category A prisoner, Wen, a small woman wearing large round glasses, was led to the witness box in handcuffs, while two dock officers guarded the door as she gave evidence.
She told jurors she grew up in a working-class family in China, where she met her husband Marcus Barraclough before coming to the UK while heavily pregnant on a spousal visa in 2007.
Image: Wen visits the Lindt chocolate shop in Switzerland. Pic: Met Police
Wen’s lifestyle change
The relationship broke down following the birth of their son and she lived a modest lifestyle in Leeds, where she took a law diploma and completed a BA in economics before moving to London in the summer of 2017.
She had already opened cryptocurrency accounts, making meticulous notes in her Wallace and Gromit notebook, but said she had “no idea” she would soon be dealing with Bitcoin on such a “massive scale”.
She applied for dozens of jobs while working in a Chinese takeaway in Abbey Wood, southeast London, where she lived in a room below the restaurant.
Wen said she saw an advert on Chinese social media app WeChat for a “butler” and first met Zhang at the five-star Royal Garden Hotel in Kensington. She later described her role as “live-in PA for a high net worth individual” on her CV.
The women soon moved into a £17,000-a-month Hampstead home after paying a £40,000 deposit and six months’ rent in advance.
Wen took trips to Thailand and Dubai and the women travelled extensively throughout Europe, with Zhang – who used aliases including Rose, Emma, and Hua Hua – avoiding countries with Chinese extradition agreements.
Image: Wen tried to buy Hampstead property. Pic: Met Police
Hampstead mansions and a Tuscan villa
They sold Bitcoin and bought fine jewellery, with receipts found for £25,600 and £18,750 from Christopher Walser Vintage Diamonds, in Zurich, and two watches worth around £49,300 and £69,900 from Van Cleef & Arpels in Switzerland.
Over a three-month period at the end of 2017, more than £90,000 was spent in Harrods on designer women’s clothes, jewellery and shoes using a rewards card in Wen’s name, although she told jurors: “I was the one carrying the bags.”
Wen bought two apartments in Dubai for more than £500,000 and looked into buying a £10m 18th century Tuscan villa with a sea view.
Image: Wen on a trip to Germany. Pic: Met Police
Image: Bundles of cash found in police raids. Pic: CPS
But efforts to buy multimillion-pound properties in London triggered anti-money laundering checks and none of the purchases went ahead because the source of the Bitcoin could not be explained.
Wen initially claimed the cryptocurrency had been mined, then said it was given to her as a “love present”, drawing up a deed of gift stating she had been given 3,000 bitcoin, then worth £15m, by Zhang.
Prosecutors said Wen acted as a “front person” to help disguise the source of the stolen money, which had been used to buy cryptocurrency to remove the proceeds from China.
‘I was duped’
Gillian Jones KC said when Zhang landed in London she needed to convert the Bitcoin back into cash or “property, jewellery or other high-value items”.
Wen accepted she was involved in an arrangement dealing with some of the cryptocurrency but said she did not know or suspect it was from the proceeds of crime, claiming she was “duped” by the woman she called her boss.
“We were close… but looking back now, I was badly used,” she said. “I have no idea where she is.”
Police say they are still actively looking for Zhang.
Plaid Cymru have won the by-election in the Senedd seat of Caerphilly for the first time.
The Welsh nationalist party secured 15,960 votes – and candidate Lindsay Whittle cried as the result was announced.
Mr Whittle is 72 years old and had stood as a Plaidcandidate 13 times since 1983. He will now hold the seat until the Welsh Assembly’s national elections next year.
This by-election was widely regarded as a two-horse race between Plaid Cymru and Reform UK, and the result marks a considerable blow for Nigel Farage.
His candidate Llyr Powell received 12,113 votes – denying a victory that would have strengthened claims that Reform can convert a large lead in opinion polls into election wins.
Nonetheless, the party’s performance is a marked improvement on 2021, when it received just 495 votes.
More than anything, the result is a humiliating and historic defeat for Labour, who had held Caerphilly at every Senedd election since it was created in 1999 – as well as the Westminster seat for over a century.
Its candidate Richard Tunnicliffe secured 3,713 votes and finished in third place, with Welsh Labour describing it as a “by-election in the toughest of circumstances, and in the midst of difficult headwinds nationally”.
Turnout overall stood at 50.43% – considerably higher than during the last ballot back in 2021.
Giving his acceptance speech after the result was confirmed, Mr Whittle began by paying tribute to Hefin David – who was Welsh Labour’s Member of the Senedd for Caerphilly until his death in August.
“He will be a hard act to follow,” Mr Whittle said. “I will never fill his shoes – but I promise you, I will walk the same path that he did.”
The Plaid politician described how he had been “absolutely heartened” by how many young people were involved in the by-election – and said the result sends a clear message.
He said: “Listen now Cardiff and listen Westminster – this is Caerphilly and Wales telling you we want a better deal for every corner of Wales. The big parties need to sit up and take notice.
“Wales, we are at the dawn of new leadership, we are at the dawn of a new beginning – and I look forward to playing my part for a new Wales, and in particular, for the people of the Caerphilly constituency. I thank you with all my heart.”
Mr Whittle quipped Plaid’s victory “was better than scoring the winning try for Wales in the Rugby World Cup”.
And looking ahead to the next year’s elections, he added: “[This] result shows what’s possible when people come together to back practical solutions and protect what matters most.
“We’ve beaten billionaire-backed Reform and, with the same determination, we can do it again in May 2026. Caerphilly has shown the way – now Wales must follow.”
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How tactical voting helped Plaid Cymru
Speaking to Sky’s chief political correspondent Jon Craig just before the declaration, Plaid Cymru leader Rhun ap Iorwerth said: “There’s clearly a real significance to the result – we are seeing the disillusionment with Labour writ large. I’ve heard it on hundreds of doorsteps, we’ve seen it in opinion polls.”
He conceded there was tactical voting in this by-election – with Labour and Conservative supporters alike backing Lindsay Whittle to keep out Reform.
However, Mr ap Iorwerth added: “I’ve spoken to literally hundreds and hundreds of people who told me – time and time again – ‘I’ve been a Labour supporter all my life, and we’re backing you this time.’
“Not begrudgingly, but because they see that’s the direction we’re going in – not just in this by-election, but as a nation. I’m calling on people to get behind that positive change – not just today, but ahead of next May.”
First Minister Eluned Morgan congratulated Mr Whittle on his return to the Senedd and said: “Welsh Labour has heard the frustration on doorsteps in Caerphilly that the need to feel change in people’s lives has not been quick enough.
“We take our share of the responsibility for this result. We are listening, we are learning the lessons, and we will be come back stronger.”
The Conservatives and the Liberal Democrats were among the parties who lost their deposits.
It was a welcome designed to catch our attention, for a visit that meant everything to the King.
The Swiss guard, standing to attention as the UK’s national anthem played out in the courtyard outside the Apostolic Palace.
Queen Camilla, wearing a distinctive black mantilla as a mark of respect to the Pope, as they made their way inside to meet Pope Leo XIV for the first time.
We know King Charles had built a relationship with Pope Francis before his death, now it appeared he was building a friendly rapport with his predecessor, as Pope Leo and the King happily talked away, both in English, meaning their conversation flowed more naturally.
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Will King and Pope distract from Andrew?
But while friendships between heads of state do matter diplomatically, this was also about making history.
Inside the Sistine Chapel, they prayed alongside each other. The first time a monarch and a pontiff have done that for 500 years, since Henry VIII broke away from the Catholic Church.
Image: Pope Leo greets King Charles and Queen Camilla at the Vatican. Pic: AP
Image: Pope Leo and Archbishop of York are joined by the King and Queen during an act of worship in the Sistine Chapel. Pic: Vatican Media/Reuters
With King Charles also the supreme governor of the Church of England, the optics could not have been more significant for relations between the two faiths.
If you wanted to see how much King Charles’s interfaith work is appreciated, it came at the basilica of St Paul’s outside the walls.
An abbey with long-held links with English monarchs, where he was given the ceremonial title of royal confrater, and a special seat was made just for him and his heirs.
Alongside religious matters, the two men talked publicly about their shared passion for the environment ahead of the UN’s climate conference COP, taking place in just over a week’s time.
With the King sent here on behalf of the government, and the foreign office emphasising how the Holy See is a vital global partner, we really saw brought into focus the soft power of the royals and the church, and how influential both can be.
Image: King Charles’s visit brings into focus the soft power of the royals. Pic PA
Image: King Charles at a garden reception at the Pontifical Beda College, where men prepare for the priesthood. Pic: PA
The interactions between the King and Pope showed a shared interest in a range of global issues.
But as the head of the Catholic Church for England and Wales, Cardinal Vincent Nichols pointed out to me, here are also two heads of state who sadly have issues around allegations of historical sexual abuse hanging over their institutions, and the decision on how to address that publicly.
There will be relief that there were no updates on the Prince Andrew problem today.
But despite Andrew vehemently denying that he has done anything wrong, revelations have kept coming.
And that is where the jeopardy lies for the royal family as they try to draw our attention back to important moments like this.
In 1645, the stronghold of Caerphilly’s famous medieval castle was besieged and captured by the forces of Oliver Cromwell.
And as the polls closed at 10pm after a bruising by-election battle, the Labour stronghold of Caerphilly was in grave danger of being captured by the forces of Nigel Farage and Reform UK in 2025.
Famous for the three Cs of coal, cheese and its castle, Caerphilly has been represented at Westminster by Labour MPs for more than a century and in Cardiff since 1999, when the Welsh Assembly was created.
That’s about to change. Labour’s vote – once as impregnable as the castle – has crumbled like Caerphilly cheese, and the Tories, Lib Dems and Green Party are nowhere.
Image: Pic PA
But Reform’s UK hopes of a famous victory in Caerphilly could be dashed by another political party hopeful of making a huge breakthrough in Wales, Plaid Cymru, second to Labour in last year’s general election and in every election for the Senedd since devolution.
As he arrived at the count at Caerphilly Leisure Centre shortly before the polls closed, Plaid Cymru’s veteran candidate, Lindsay Whittle, 72, was remarkably cheerful. Asked if he was going to win, he declared, punching the air: “I certainly hope so!”
An opinion poll in the constituency last week put support for Reform UK at 42%, Plaid Cymru 38%, Labour a dismal 12%, the Conservatives in lost deposit territory at 4%, along with the Greens at 3% and the Lib Dems barely registering at 1%.
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Unlike Cromwell’s forces, who arrived in Caerphilly on horseback nearly 400 years ago, Mr Farage galloped into the constituency on polling day in a fast car, in what was his third visit of the by-election campaign to the constituency.
A victory for Mr Farage’s candidate, 30-year-old Llyr Powell, would leave Reform UK on the road to further triumphs and have an impact on UK politics far beyond the Welsh Valleys. It would be a pointer to massive Reform UK gains in local, Scottish Parliament and Welsh Senedd elections next year.
It would turn the mood of Labour MPs from its current gloom and trepidation into blind panic and would convince them – if they were not convinced already – that Mr Farage is on the march to Downing Street and many of the 2024 Labour intake will lose their seats at the next general election.
But let’s not rule out a Plaid victory. That would send shockwaves throughout Wales and be seen as a clear signal that Labour’s 26-year dominance of the Welsh government is about to come to an undignified end.
The only certainties tonight are humiliation for Labour and near-wipeout for the Conservatives and Lib Dems.
The only uncertainty is whether it’s Reform UK or Plaid Cymru whose troops – like Cromwell’s in 1645 – capture Labour’s Caerphilly stronghold.