Police say syndicate members suspected of coordinating money laundering activities from hotel rooms across city to cover their tracks
Hong Kong police have arrested 18 people for allegedly laundering HK$66 million (US$8.5 million) in crime proceeds as part of a crackdown on a syndicate suspected of operating from hotel rooms across the city to process the money using stooge bank accounts.
The force said on Friday the arrestees comprised four people suspected of acting as leading or core members and 14 alleged stooge bank account holders. They were arrested over the past two days.
“Our investigation shows that HK$66 million has been laundered in the past eight months through more than 30 bank accounts,” said Chief Inspector Man Chi-yeung of Hong Kong Island’s regional crime unit.
The 13 men and five women, aged between 29 and 61, were apprehended on suspicion of conspiring to launder money.
