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A 28-year-old expatriate male was jailed for four years for money laundering at District Court today (December 10).
The Court heard that members of a fraud syndicate had impersonated as the chief executive of an overseas multinational company and caused the companyˇ¦s financial controller outside Hong Kong to transfer some HK$ 60 millions to various bank accounts in Hong Kong set up by defendant and other syndicate members in January this year. The company later discovered the scam and reported the case in January.
The Commercial Crime Bureau started immediate investigation. The defendant was found to have opened bank accounts in Hong Kong to receive, collect and transfer the relevant crime proceeds. Police arrested the defendant in March 2012. The relevant bank accounts were frozen and the victim company subsequently recovered part of their losses by civil means.
The defendant was subsequently charged him with dealing with property known or believed to represent proceeds of an indictable offence. He was convicted of the offence and the sentence was handed down today.
Police appeal to the public to be cautious when taking any unsolicited calls particularly relating to demands for fund transfer. They are also advised not to open bank accounts to receive or collect proceeds of dubious nature on behalf of others.
Police Report No.261
Issued by PPRB
Ends/Monday, December 10, 2012
Issued at HKT 20:52
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