Authorities in the UK have brought charges against National Crime Agency (NCA) officer Paul Chowles for various offenses linked to the alleged theft of 50 Bitcoin back in 2017.
At the time of the supposed theft, the Bitcoins were worth around £60,000 (about $77,400).
However, due to the significant appreciation of Bitcoin over the years, this amount has escalated to approximately £3.2 million (over $4 million).
The Case
On March 13, the Crown Prosecution Service (CPS) announced that Merseyside Police had been given the green light to move forward with the case.
Malcolm McHaffie, head of the CPS Special Crime Division, stated:
“Mr. Chowles, who is 42 years old, is facing 11 charges related to concealing, disguising, or converting criminal property, three counts of acquiring, using, or possessing criminal property, and one count of theft.”
Chowles is scheduled to appear at Liverpool Magistrates’ Court on April 25.
The CPS reminded the public that criminal proceedings are ongoing and that Chowles is entitled to a fair trial. They also cautioned against online commentary or articles that might affect the judicial process.
The CPS Special Crime Division manages some of the most intricate and delicate cases in England and Wales, including serious allegations against law enforcement officers, corporate manslaughter, and electoral offenses.
NCA’s Role in Tackling Crypto Crimes
As the UK’s primary agency confronting significant and organized crime, the NCA prioritizes combating issues like cybercrime and financial fraud on both national and global fronts.
Last year, the agency was granted powers to seize, freeze, and destroy cryptocurrencies associated with illegal activities.
In December 2024, the agency exercised this authority when it led an international initiative against Russian money laundering networks involved in organized crime affecting various regions, such as the UK, the Middle East, Russia, and South America.
This mission, dubbed Operation Destabilise, resulted in the arrests of 84 individuals tied to two Russian-speaking criminal organizations, Smart and TGR.
The operation also culminated in the seizure of £20 million ($25.4 million) in cash and cryptocurrency.
