Hong Kong (HKSAR) – A man aged 50 and his wife aged 57 were respectively jailed for 42 and 51 months for ‘money laundering’ at District Court today (July 19).
The Court heard that the duo had accepted bets on local horse racing and global soccer matches, and a number of large amounts were deposited into their bank accounts from 2004 to 2010.
The Regional Crime Unit of New Territories North conducted in-depth investigations and arrested the man at Lo Wu Border Control Point on May 23, 2011 when he returned to Hong Kong from the Mainland. About HK$180,000 and RMB$12,000 cash were found in his possessions. Police also seized some cash and valuables worth about HK$800,000 at his residence and arrested the female defendant.
Investigations revealed that the duo used two and five bank accounts respectively for dealing with crime proceeds about HK$39 million and HK$23 million.
About HK$10 million of the couple’s assets were restrained. Police would apply to the court to confiscate crime proceeds in accordance with the Organized and Serious Crimes Ordinance (Chapter 455).
Both defendants were subsequently charged with respectively two and five counts of ‘dealing with property known or believed to represent proceeds of an indictable offence’. The male pleaded guilty earlier while the female was convicted after trial.
Sentences were handed down today.
Police Report No. 244
Issued by PPRB HK Police