Hong Kong man jailed for laundering millions through scam-linked bank accounts

byVerified News Online

AdvertisementCrime in Hong KongHong KongLaw and CrimeHong Kong man jailed for laundering millions through scam-linked bank accounts

Court hands down stiff sentence to deter growing abuse of personal bank accounts

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The 38-year-old defendant was sentenced to 44 months’ imprisonment after pleading guilty to two counts of money laundering at the District Court in Wan Chai. Photo: Jelly Tse

Wynna Wong

A Hong Kong man has been jailed for nearly four years after admitting to laundering millions of dollars in criminal proceeds through bank accounts linked to investment and romance scams.

The 38-year-old defendant was sentenced on Wednesday to 44 months’ imprisonment after pleading guilty to two counts of money laundering at the District Court in Wan Chai.

“To enhance deterrence against the use of bank accounts for money laundering, police applied to the court for a sentence enhancement at the sentencing stage,” said Lo Chun-kong, senior inspector of the technology and financial crime unit at New Territories North Regional Headquarters.

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The court approved a 25 per cent sentence enhancement following the application by police, citing the seriousness of the offence and the need to deter the growing use of puppet bank accounts.

Police said the case stemmed from reports made between May and October 2023 by seven people who had fallen prey to online scams.

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Some victims were asked to invest money through fake websites or mobile applications after being approached by individuals posing as investment experts, while others were deceived through online romance scams involving claims of urgent medical expenses.

Victims were instructed to transfer funds into local bank accounts only to later discover they were unable to withdraw their purported investment returns or had lost contact with the scammers.

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