Four years’ jail for laundering HK$3.4m crime proceeds
2018-3-22
A former sales manager of a gift trading company, charged by the ICAC, was today (March 22) sentenced to four years’ imprisonment at the District Court for laundering over HK$3.4 million in crime proceeds in relation to 50 false production orders.
Leong Kim-iong, 46, former sales manager of Logojets International Limited (Logojets), was earlier found guilty of two charges of dealing with property known or believed to represent proceeds of an indictable offence, contrary to Section 25(1) of the Organized and Serious Crimes Ordinance.
In sentencing, Judge Mr Fred Sham Siu-man said the court had to mete out an immediate custodial sentence to the defendant in view of the seriousness of the offences, which constituted a serious breach of trust.
The judge also reprimanded the defendant for showing no remorse and distorting the truth in mitigation.
The case arose from a corruption complaint. Subsequent ICAC enquiries revealed the above offences.
The court heard that at the material time, the defendant was a sales manager of Logojets, a Mainland company engaged in gift trading business. He was responsible for sourcing gift orders from clients and placing production orders with suppliers.
The defendant submitted 50 production orders to Logojets applying for advance payments totalling approximately Renminbi 2.77 million (over HK$3.4 million) payable to two suppliers in the Mainland.
The court heard that in believing the applications were genuine, Logojets approved them and remitted the Renminbi 2.77 million into the designated accounts of the two Mainland suppliers held by two representatives of a licenced remittance agency in Hong Kong.
The representatives of the licenced remittance agency then arranged for the transfer of the corresponding sum of Hong Kong dollars from their bank accounts to the defendant’s bank accounts in Hong Kong.
Between November 23, 2012 and November 26, 2014, two sums of money, namely over HK$3.1 million and more than HK$310,000, were paid into the defendant’s bank accounts in Hong Kong.
Had Logojets known that the 50 production orders concerned were false, it would not have approved or endorsed the applications, the court was told.
Logojets had rendered full assistance to the ICAC during its investigation.
The prosecution was today represented by prosecuting counsel Sabrina See, assisted by ICAC officer William Tam.
Leong Kim-iong, 46, former sales manager of Logojets International Limited (Logojets), was earlier found guilty of two charges of dealing with property known or believed to represent proceeds of an indictable offence, contrary to Section 25(1) of the Organized and Serious Crimes Ordinance.
In sentencing, Judge Mr Fred Sham Siu-man said the court had to mete out an immediate custodial sentence to the defendant in view of the seriousness of the offences, which constituted a serious breach of trust.
The judge also reprimanded the defendant for showing no remorse and distorting the truth in mitigation.
The case arose from a corruption complaint. Subsequent ICAC enquiries revealed the above offences.
The court heard that at the material time, the defendant was a sales manager of Logojets, a Mainland company engaged in gift trading business. He was responsible for sourcing gift orders from clients and placing production orders with suppliers.
The defendant submitted 50 production orders to Logojets applying for advance payments totalling approximately Renminbi 2.77 million (over HK$3.4 million) payable to two suppliers in the Mainland.
The court heard that in believing the applications were genuine, Logojets approved them and remitted the Renminbi 2.77 million into the designated accounts of the two Mainland suppliers held by two representatives of a licenced remittance agency in Hong Kong.
The representatives of the licenced remittance agency then arranged for the transfer of the corresponding sum of Hong Kong dollars from their bank accounts to the defendant’s bank accounts in Hong Kong.
Between November 23, 2012 and November 26, 2014, two sums of money, namely over HK$3.1 million and more than HK$310,000, were paid into the defendant’s bank accounts in Hong Kong.
Had Logojets known that the 50 production orders concerned were false, it would not have approved or endorsed the applications, the court was told.
Logojets had rendered full assistance to the ICAC during its investigation.
The prosecution was today represented by prosecuting counsel Sabrina See, assisted by ICAC officer William Tam.