** #UK Law Enforcement Officer Accused of Stealing Millions in #Bitcoin **
A UK National Crime Agency (NCA) officer has been charged by the Crown Prosecution Service (CPS) for allegedly stealing 50 Bitcoin (BTC) during a criminal investigation in 2017. The case emerges as the UK government continues developing regulations for the cryptocurrency sector.
Paul Chowles, a 42 years old NCA officer from Bristol, is accused of misappropriating the cryptocurrency, then valued at £60,000 ($75,000), while working on an inquiry into online organized crime. Due to Bitcoin’s substantial price surge in recent years, the stolen assets are now estimated at £3.2 million ($4.2 million).
Malcolm McHaffie, Head of the CPS Special Crimes Division, confirmed Chowles faces 15 criminal charges, including 11 counts of concealing, disguising, or converting criminal property; three counts of acquiring, using, or possessing illicit assets; and one count of theft. Chowles is scheduled to appear at Liverpool Magistrates’ Court on April 25, 2025.
McHaffie stressed the importance of preserving judicial integrity, stating, “Criminal proceedings are active, and the defendant is entitled to a fair trial. Public commentary or online discussions that could prejudice this case must be avoided.”
Under UK law, each money laundering charge carries a maximum 14 years sentence, while theft alone could result in seven years. Though theoretical calculations suggest a cumulative sentence exceeding 20 years, legal experts note that concurrent sentencing—where punishments run simultaneously—is typical, significantly reducing actual prison time.
The case highlights growing scrutiny over cryptocurrency-related crimes as authorities #worldwide grapple with enforcing accountability in digital asset markets.$BTC