Police arrest 12 for laundering of over $100 million
發佈日期: 2025-05-17 20:16
TVB News
The police have busted a money-laundering syndicate that allegedly recruited mainlanders to open stooge accounts in Hong Kong.
12 people were arrested in connection with the case. More than 500 bank cards, over a million dollars in cash, and multiple bank documents were seized in the operation.
The Police earlier targeted a local money-laundering syndicate that had established an operational base in a flat in Mongkok since the middle of last year.
The Force said the flat was where the suspects recruited mainlanders to open traditional and virtual bank accounts.
For the next step, the syndicate transferred scammed money to those shell accounts and instructed the mainlanders to withdraw the funds and convert it into cyptocurrencies in order to erase any criminal evidence.
Police said the gang laundered some 118 million dollars through 560 accounts. So far, 10 million dollars have been confirmed to be laundered funds linked to 58 reported fraud cases.
On Thursday, police arrested two alleged syndicate members who were exchanging money for cyptocurrencies, and also 10 others in operations in Mongkok. They were charged with conspiracy to commit money laundering.
Tse Ka-lun, a Senior Inspector at the Commercial Crime Bureau, said account holders could face legal consequences if their accounts were used to handle criminal funds.
The Force said that since 2023, people convicted of money laundering have been sentenced to additional jail time of between 3 to 18 months.
