Seven charged with laundering $1b crime proceeds
2015-2-26
Seven proprietors of shell companies have been charged by the ICAC with conspiring to launder over $1 billion in crime proceeds.
The defendants, who were charged yesterday (Wednesday), are D1, 32, driver; D2, 40, product manager; D3, 35, clerk; D4, 39, construction worker; D5, 31, advertisement technician; D6, 32, technician; and D7, 37, truck driver.
They each face one count of conspiracy to deal with property known or believed to represent proceeds of an indictable offence, contrary to Section 25(1) of the Organized and Serious Crimes Ordinance and Section 159A of the Crimes Ordinance.
The defendants will appear in Eastern Magistracy tomorrow (Friday) for mention, pending transfer to the District Court.
The case arose from a corruption complaint. Subsequent ICAC enquiries revealed the above alleged offences.
At the material time, the defendants, who were engaged in various industries, were also sole directors-cum-shareholders of seven different shell companies respectively.
The charges allege that between August 2004 and June 2009, the defendants each conspired with a middleman to deal with a sum of money ranging from over $8 million to over $440 million, knowing or having reasonable grounds to believe that the sum of money, in whole or in part, directly or indirectly, represented the proceeds of an indictable offence.
The total sums of suspected crime proceeds dealt with by the defendants amounted to over $1.07 billion.
The defendants have been released on ICAC bail, pending their court appearance tomorrow.
The defendants, who were charged yesterday (Wednesday), are D1, 32, driver; D2, 40, product manager; D3, 35, clerk; D4, 39, construction worker; D5, 31, advertisement technician; D6, 32, technician; and D7, 37, truck driver.
They each face one count of conspiracy to deal with property known or believed to represent proceeds of an indictable offence, contrary to Section 25(1) of the Organized and Serious Crimes Ordinance and Section 159A of the Crimes Ordinance.
The defendants will appear in Eastern Magistracy tomorrow (Friday) for mention, pending transfer to the District Court.
The case arose from a corruption complaint. Subsequent ICAC enquiries revealed the above alleged offences.
At the material time, the defendants, who were engaged in various industries, were also sole directors-cum-shareholders of seven different shell companies respectively.
The charges allege that between August 2004 and June 2009, the defendants each conspired with a middleman to deal with a sum of money ranging from over $8 million to over $440 million, knowing or having reasonable grounds to believe that the sum of money, in whole or in part, directly or indirectly, represented the proceeds of an indictable offence.
The total sums of suspected crime proceeds dealt with by the defendants amounted to over $1.07 billion.
The defendants have been released on ICAC bail, pending their court appearance tomorrow.