The UK Crown Prosecution Service (CPS) has authorized charges against a National Crime Agency (NCA) officer over the alleged theft of Bitcoin worth approximately $75,000 in 2017. In a statement on March 14, the CPS confirmed that Merseyside Police had been given the go-ahead to charge Paul Chowles with 15 offenses linked to the alleged theft.
Chowles, who was involved in an investigation into online organized crime, faces one count of theft, 11 charges related to concealing, disguising, or converting criminal property, and three counts for acquiring, using, or possessing criminal property.
The stolen Bitcoin, originally valued at $75,000 before the December 2017 bull run, has seen a massive price surge. At the time of publication, with Bitcoin trading at $84,541, the 50 BTC stash is now worth over $4.2 million. Chowles is scheduled to appear before the Liverpool Magistrates’ Court on April 25.
UK Expands Crypto Seizure Powers
The case comes months after the UK strengthened its crypto-related crime enforcement. Amendments to the Economic Crime and Corporate Transparency Act, implemented in April 2024, granted NCA officers and local police the authority to seize crypto assets from suspected criminals without making an arrest. However, the CPS did not disclose how Chowles allegedly stole the Bitcoin or if the funds were linked to illicit activities.
UK Authorities Continue Crackdown on Crypto-Linked Crime
The NCA has been ramping up its fight against crypto-related crimes. In December 2024, the agency reported seizing approximately $26 million in cash and cryptocurrencies while arresting 84 individuals as part of a global crackdown on money laundering and organized crime. Some of the targeted crypto addresses were reportedly linked to Garantex, a Russian crypto exchange whose founder was arrested in India in March. He now faces extradition to the United States on criminal charges.The UK government is expected to introduce a clearer regulatory framework for digital assets in 2025, following the Labour Party’s election victory. The country remains a key market for cryptocurrency, with major players like Coinbase securing regulatory approval to operate in the region earlier this year.
