Pair jailed in HK$280m money laundering case

The District Court on Thursday sent two women to 36 months and 58 months in jail each for money laundering. They were found guilty of bringing in a total of HK$280 million in crime proceeds from the mainland on multiple occasions between 2018 and 2019. Authorities said this is the first such conviction since the Cross-boundary Movement of Physical Currency and Bearer Negotiable Instruments Ordinance took effect in 2018. The court heard the pair frequently transported a large quantity of cash to Hong Kong via boundary control points. Handing down the sentences, judge Lily Wong said the two women were not the masterminds of the case but they played a significant role nevertheless. The pair were arrested in 2019 but the trial did not open until 2023 because of the city's social unrest and the pandemic. The judge reduced the pair's sentences by six months each, citing the delay. Authorities welcomed the sentences, saying they will have a deterrent effect. Billy Au, investigator at the Customs’ financial investigation bureau, said the jail terms reflected the severity of the offence. "The two defendants claimed that they brought cash to currency exchange stores in Hong Kong for third parties to exchange, or use it to invest in the cosmetic business," he said. "However, the evidence they provided could not support their claims. Their explanations at the time of the arrest and their testimonies in court were contradictory." Edited by Edmond Fong