Man charged with money laundering following Bitcoin fraud

A 28-year-old man has been charged with money laundering as part of an investigation into a Bitcoin fraud.

A woman in her fifties from Bristol had 3.16 Bitcoin (worth £154,000 at the time) stolen as the result of a telephone scam in June 2024.

The woman reported the incident to Action Fraud, resulting in a referral being made to Avon and Somerset Police.

Enquiries carried out by our Financial Investigations Unit (FIU) have resulted in the seizure of £100,000 in crypto assets and a man being charged with a money laundering offence (entering into/concerned in acquisition/retention/ use or control of criminal property).

Omar Abdalla, of Matthias Road in Islington, London, appeared before Bristol Magistrates’ Court on Monday, and was remanded in custody until the next hearing at Bristol Crown Court on Monday 24 February.