Dummy insurance agent admits money laundering for handling $270,000 commissions revealed in ICAC graft probe
In the course of a corruption investigation, the ICAC had earlier revealed that a dummy insurance agent had conspired with others to make false representations that an insurance policy was handled by him and had returned most of the commissions and bonuses, totalling over $270,000, to those who recruited him to take part in the scam. The defendant admitted laundering crime proceeds at the Eastern Magistrates’ Courts today (December 7).