Lawrence Damilola
A Scottish court has seized £110,000 (around $144,000) worth of Bitcoin from John Ross Rennie, who was described as the “technical brains” behind a violent robbery in 2020 that targeted cryptocurrency.
According to a BBC report on Monday, prosecutors in Scotland used proceeds of crime legislation to convert and seize the digital assets, marking what has been called a “Scots legal first.” Prosecutors converted the 23.5 Bitcoin into physical cash, totaling £109,601.
Rennie, 29, was convicted of possessing stolen goods after a robbery at a home in Blantyre, Lanarkshire, where a man was forced to transfer Bitcoin during an assault. Rennie did not participate in the physical robbery but provided key technical knowledge on how to transfer the cryptocurrency. He was given a community sentence, which included 150 hours of unpaid work and a six-month supervision order.
The robbery, which took place in March 2020, involved three men who assaulted a man in his home. Reports indicate that the victim “was forced to transfer cryptocurrency after waking up to find a man standing over him with a machete.” A woman present in the home was also attacked; she was struck multiple times with a Toblerone bar and thrown into a bedroom. One of the attackers allegedly used the chocolate bar to make a “throat-slitting gesture” before fleeing the scene.
Rennie was not directly involved in the robbery but played a “pivotal role” in the crime by instructing the attackers on how to transfer Bitcoin from the victim’s account. During the High Court in Glasgow trial, his involvement was described as providing the necessary “technical expertise” for the theft. Rennie denied participating in the robbery but was convicted of possessing stolen goods. His lawyer, Marco Guarino, stated, “It has been an unusual case throughout.”
The legal process for converting the seized cryptocurrency into cash took place at the High Court in Edinburgh. Judge Lady Ross of the Judiciary of Scotland sought legal authority to determine how the assets could be settled in cases involving digital currency. Lawyers agreed on converting Bitcoin to physical cash, with the final amount settled at £109,601.
Police Scotland noted the case as a milestone, saying, “This is the first time stolen cryptocurrency has been traced and recovered in a robbery case.” The application of proceeds of crime legislation allowed the Crown to take legal control of Rennie’s Bitcoin holdings, converting them to cash under the court’s orders.
The case of John Ross Rennie marks the first instance in Scotland where stolen cryptocurrency has been tracked, seized, and converted under criminal law provisions. It represents a new approach to handling digital assets linked to crime.
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Lawrence does not hold any crypto asset. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
