Paul Chowles, an operational officer with the UK’s National Crime Agency, has been charged with several offenses related to the alleged misappropriation of Bitcoin during a probe into online organized crime that took place in 2017.
The Crown Prosecution Service has given Merseyside Police the green light to charge Chowles, 42, with 11 counts of concealing, disguising, or converting criminal property, three counts of acquiring, using, or possessing criminal property, and one count of theft.
He is scheduled to appear at Liverpool Magistrates’ Court on April 25.
In a statement, Malcolm McHaffie, head of the CPS Special Crime Division, confirmed the charges and emphasized the importance of the defendant’s right to a fair trial.
“It is crucial that there should be no reporting, commentary, or sharing of information online that could potentially prejudice these proceedings,” he stated.
The alleged theft reportedly dates back to 2017 when Bitcoin (BTC) was priced at approximately £1,200 per coin, making the 50 BTC involved worth around £60,000 at that time. However, with the price of Bitcoin soaring since, 50 BTC is now valued at over £3 million ($4.1 million) based on current market trends.
The NCA, which is responsible for combating serious and organized crime in the UK, has not yet released a public statement regarding this case.
Authorities seizing Bitcoin
This situation is reminiscent of that of Australian police officer William Wheatley, who faced legal action for allegedly stealing 81.616 Bitcoin that was sequestered during a 2019 drug-trafficking investigation.
Prosecutors accused him of theft, handling proceeds of crime, and abusing confidential information. The defense claimed that the case was based on circumstantial evidence. These allegations arose from Operation Viridian, which targeted criminal networks that utilized cryptocurrency for illegal activities.
Chowles, a resident of Bristol, is facing charges under the Proceeds of Crime Act 2002 and the Theft Act 1968. If found guilty, he could face severe legal consequences.