Police giving information about the accused caught in Hong Kong.
Beijing/Hong Kong: Hong Kong customs authorities on Friday arrested at least seven people in the territory’s biggest money laundering case, worth 14 billion Hong Kong dollars (US$1.8 billion). Some of this amount is related to a mobile app scam case in India. Hong Kong’s Customs and Excise Department said the gang used dummy bank accounts and shell companies to transfer the largest amount of money linked to a single case recorded in the city.
Suzette Ip Tung-ching, head of the Customs Financial Investigation Bureau, told media in Hong Kong that the operation was linked to a mobile app scam in India and two jewelery companies in the country that allegedly embezzled about 2.9 billion Hong Kong dollars (US$371 million). Dollar) amount was manipulated. Ip described the amount of money laundered as “staggering”, with one account receiving 100 million Hong Kong dollars (US$12.8 million) a day and more than 50 daily transactions. Some of those arrested were Hong Kong non-resident Chinese, he said, without giving details.
Were playing in electronics, gems and jewelery business
Ip said law enforcement agencies in Hong Kong, India and elsewhere cooperated in carrying out the operation. He said the suspects were accused of laundering cash through transactions involving gems and electronics, including a 34-year-old man believed to be the key conspirator, the Hong Kong-based South China Morning Post newspaper reported. His wife, brother and father were also arrested. He along with three other Hong Kong residents were accused of setting up a large number of shell companies and fake bank accounts to trade in electronics, gems and jewellery.
Suspicious gems worth 8 thousand carats seized
“These bank accounts were used for numerous local and foreign transactions before conducting complex and persistent trading with multiple layers of money laundering,” Ip said. The Associated Press from Hong Kong quoted Yu Yiu-wing, divisional commander of the bureau, as saying that officials exchanged intelligence with Indian authorities and found that some of the money had come from two jewelery companies, which Indian officials said It was said that she was linked to the scam. Authorities seized electronic devices, documents and more than 8,000 carats of suspected synthetic gems that were apparently meant for export to India. (Language)
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