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Ex-NCA Officer Who Worked on Silk Road Operation Ordered to Repay £1.8M for Stealing Seized Bitcoin
Judge Dennis Watson KC said the former NCA analyst must repay £1.81 million after stealing 50 Bitcoin that rose from about £60,000 to more than £4 million.
- On Wednesday, Liverpool Crown Court ordered former National Crime Agency officer Paul Chowles to repay over £1.8 million after he stole 50 Bitcoin from a digital wallet seized during an investigation.
- Acting as the lead investigator on the Silk Road 2.0 case, Chowles surreptitiously transferred 50 Bitcoin from Thomas White's "retirement wallet" between May 6 and 7, 2017, while the NCA held the private keys to the account.
- Using a dark web "mixing service" called Bitcoin Fog to disguise the source, Chowles then spent around £140,000 of the stolen proceeds on supermarkets, restaurants, building work and nursery fees.
- Although the 50 Bitcoin were valued at approximately £60,000 when stolen, their worth soared to over £4.3 million by sentencing, with the confiscation order also resolving White's outstanding balance.
- Judge David Aubrey KC sentenced Chowles to five-and-a-half years in prison, stating he "abused a position of trust and responsibility" and weaved "a sophisticated, intricate, dishonest web" as lead investigator.
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