Prosecutors in Scotland confiscated 23.5 BTC from the “technical minds” responsible for the burglary and converted it into physical currency.
A crypto holder was threatened with a machete during a home incursion in which Scottish prosecutors converted and seized nearly $144,000 (£110,000) in Bitcoin from the “technical minds” involved.
The indirect involvement of John Ross Rennie in the robbery resulted in his conviction in October 2023 for “reset relating to cryptocurrency.”
A late-night burglary occurred at the unnamed victim’s residence in the town of Blantyre, which is located near Glasgow, in March 2020.
Police subsequently discovered that Rennie, 29, was the individual who compelled the unnamed man to transfer the Bitcoin to an account.
Additionally, they stole a car and other valuable items, and they injured a woman by striking her with a personalized Toblerone chocolate bar. The males allegedly also conducted a throat-slitting gesture with the chocolate bar toward the woman.
Rennie was convicted of a crime known as “reset” in UK law in November 2023, despite the fact that he was not actively involved in the larceny. This is the act of possessing stolen products.
Prosecutors utilized proceeds of crime legislation to convert and seize 23.5 BTC from Rennie as physical currency during a separate hearing that concluded on Monday at the Edinburgh High Court. The Bitcoin itself is valued at £109,601.
The price of Bitcoin was between $5,032 and $9,135, at the time of the robbery in March 2020. At the present price, the 23.5 BTC would be equivalent to approximately $1.37 million (£1.04 million).
According to Sky News, Rennie’s defense contended that he was coerced into his involvement by a “threatening” and “violent” family member who was not someone to whom he could say “no.”
During his initial trial at the High Court in Glasgow, it was determined that Rennie played a “pivotal” role in the crime by providing the technical expertise necessary to effectuate the Bitcoin transfer.
In 2023, Lady Ross, the judge who presided over the case, stated that she wished to establish a legal precedent regarding the use of cryptocurrency in proceeds of crime cases.
Scotland’s legal system is distinct from that of the rest of the United Kingdom, despite its similarities. This implies that the decisions of Scottish justices may not be binding in cases that are comparable to those in England and Wales. Organized criminals have employed home invasions to pilfer cryptocurrency in numerous other instances.
Wallets