UK Police arm, the Surrey Police on Thursday, 19th July paraded Latvian Seregjs Teresko before the Kingston Crown Court on issues bothering money laundering and drug dealings.

The UK Police had while some time ago arrested Latvian and confiscated 295 bitcoin stored in his hardware wallet as part of a criminal probe. The Surrey Police further sold the seized 295 bitcoin into Pounds (GBP). The bitcoin was estimated to worth 1.25 million pounds.

This development placed the UK Police the first ever to seize bitcoin and convert them to fiat currency. The Surrey Police stated the funds will be used to fund future operations of the Police command.

The actions of Surrey Police’s fund pool follows the conclusion of a Proceeds of Crime Act hearing where Latvian Seregjs Teresko was found to be the beneficiary of money laundering and drug dealing.

The Kingston Crown Court ruled that Teresko had earned over £2,058,612.65, including the 295 confiscated Bitcoins, from his various criminal activities.
The court also ruled that the Surrey Police will be allowed to keep 18.8% of the heist where over £250,000 was found in cash. Surrey Police said in an official tweet.

Read more here : https://cointelegram.co/uk-police/