Paul Chowles, a 42-year-old operational officer with the UK’s National Crime Agency (NCA), has been charged with multiple offenses related to the alleged theft of 50 Bitcoin during an investigation into online organized crime in 2017, according to the Crown Prosecution Service (CPS), as authorized by Merseyside Police on March 14, 2025.
Chowles faces 11 counts of concealing, disguising, or converting criminal property, three counts of acquiring, using, or possessing criminal property, and one count of theft under the Proceeds of Crime Act 2002 and the Theft Act 1968. He is scheduled to appear at Liverpool Magistrates’ Court on April 25, 2025. Malcolm McHaffie, head of the CPS Special Crime Division, confirmed the charges, emphasizing the defendant’s right to a fair trial and urging the public to refrain from reporting or sharing information online that could prejudice the proceedings.
The alleged theft occurred when Bitcoin was valued at approximately £1,200 per coin, making the 50 BTC worth around £60,000 at the time. However, with Bitcoin’s price surging to over £60,000 per coin recently—following a drop below $80,000—the stolen amount is now valued at more than £3 million ($4.1 million), highlighting the cryptocurrency’s volatility and value growth. The NCA, responsible for combating serious and organized crime in the UK, has yet to comment on the case, leaving questions about internal oversight and security measures for seized digital assets. Stay informed on crypto crime developments with Crypto Market Insights on news.thecoininfo.com, and explore in-depth analysis on The Coin Info Hub at thecoininfo.com.
This case mirrors a similar incident involving Australian police officer William Wheatley, who faced court proceedings for allegedly stealing 81.616 Bitcoin seized during a 2019 drug-trafficking investigation, facing charges of theft, managing proceeds of crime, and misusing confidential information. Wheatley’s defense argued the evidence was circumstantial, underscoring the challenges of prosecuting crypto-related crimes. For crypto investors, these incidents raise concerns about the security of digital assets in law enforcement custody, especially amid Bitcoin’s market volatility and growing institutional adoption, like the U.S. strategic Bitcoin reserve. If convicted, Chowles could face significant penalties, but the outcome will hinge on legal proceedings, with resources like Crypto News Updates on news.thecoininfo.com keeping you updated on this high-profile case.
