Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets? Caproasia - Learn more
This site is for accredited investors, professional investors, investment managers and financial professionals only.
You should have assets around $3 million to $300 million or managing $20 million to $3 billion.
7 Hong Kong Bankers Arrested in $810 Million Money Laundering Case
22nd January 2021 | Hong Kong
The Hong Kong commercial crime bureau have arrested 7 former and current bankers for involvement in an international money laundering syndicate that had laundered $810 million (HKD 6.3 billion) through Hong Kong banks between 2017 to 2020. The 7 arrested are former and current banking customer service managers, who had used their knowledge of banking operations and KYC (Know-Your-Client) procedures to assist the syndicate, and received thousands of Hong Kong dollars in return.
” 7 Hong Kong Bankers Arrested in $810 Million Money Laundering Case “
The 2023 Investment Day | 5/9 HK & 12/9 SG
Private Equity, Hedge Funds, Boutique Funds, Private Markets & more. Taking place on 5th Sept 2023 in Hong Kong, 12th Sept 2023 in Singapore.
Visit | Register here
The 2023 Family Office Summit | 25/10 HK & 7/11 SG
Join 100+ single family offices & family office professionals in Hong Kong & Singapore
Links: 2023 Family Office Summit | Register here
The Raid, Arrest of 7 Bankers
Hong Kong, Asia’s leading financial centre
In a series of raids in Hong Kong on the 19th of January 2021 (Tuesday) in 7 apartments and 5 businesses, the 7 former and current bankers were arrested. $1.01 million (HKD 7.8 million) of cash was also found in the home of one of the suspect. The 7 bankers arrested (5 men, 2 women) are between 30 to 37 years-old.
HK Commercial Crime Bureau Began Investigation in 2017
In 2017, the Hong Kong commercial crime bureau had began investigating the syndicate, which had sent 16 people (Belgians & Mainland Chinese) to Hong Kong to open 14 business accounts at 2 banks using falsified documents and fake Hong Kong identify cards.
Between 2017 to 2020, about $810 million (HKD 6.3 billion) was laundered through at least 14 bank accounts. The $810 million of funds came from all over the world including Italy, Vietnam and Germany.
Money Laundering Offence Penalty in Hong Kong
In Hong Kong, money laundering offence carries a maximum of 14 years in jail and a $640,000 (HKD 5 million) fine. In Hong Kong, the largest money laundering case amounted to $1.69 billion (HKD 13.1 billion) between 2009 to 2010 by a then 22-year-old Chinese Mainland man with over 4,800 deposits made. He was arrested in 2012 and in 2013, was sentenced to 10.5 years in jail.
The police disclosed the information in an official press release. The names of the arrested bankers and the banks involved in the investigation, were not released.
Managing $20 million to $3 billion. Investing $3 million to $300 million.
For Investment Managers, Hedge Funds, Boutique Funds, Private Equity, Venture Capital, Professional Investors, Family Offices, Private Bankers & Advisors, sign up today. Subscribe to Caproasia and receive the latest news, data, insights & reports, events & programs daily at 2 pm.
Join Events & Find Services
Join Investments, Private Wealth, Family Office events in Hong Kong, Singapore, Asia-wide. Find hard-to-find $3 million to $300 million financial & investment services at The Financial Centre | TFC. Find financial, investment, private wealth, family office, real estate, luxury investments, citizenship, law firms & more. List hard-to-find financial & private wealth services.
Have a product launch? Promote a product or service? List your service at The Financial Centre | TFC. Join interviews & editorial and be featured on Caproasia.com or join Investments, Private Wealth, Family Office events. Contact us at [email protected] or [email protected]Caproasia.com | The leading source of data, research, information & resource for financial professionals, investment managers, professional investors, family offices & advisors to institutions, billionaires, UHNWs & HNWs. Covering capital markets, investments and private wealth in Asia. How do you invest $3 million to $300 million? How do you manage $20 million to $3 billion of assets?
