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He stated an investigation discovered the syndicate had carried out 41 deliveries of money involving US$91 million in complete from Turkey to Hong Kong between January and Could.
The bureau’s Superintendent Yeung Yuk-man stated the amount of cash concerned in every supply ranged from US$1.3 million to US$5.3 million. Twenty-two deliveries have been made in one of many 5 months.
Officers turned suspicious when the passengers concerned made customs declarations on bulk money imports at Hong Kong Worldwide Airport after arriving from Istanbul, he stated.
“They claimed they helped two corporations in Turkey ship the money into Hong Kong for companies concerned within the buying and selling of gems and jewelry however gave no additional particulars,” Yeung stated.
“They have been unable to provide the main points of native companies concerned and the ultimate vacation spot within the metropolis.”
Travellers are required to declare sums of greater than HK$120,000 when coming into Hong Kong beneath laws that got here into impact in 2018 to forestall prison proceeds and terrorist funding from coming into the town.
In accordance with the division, every courier carried a suitcase and a backpack full of US$100 notes throughout deliveries.
“Along with a financial reward, they have been supplied with free [economy-class] air tickets and lodging, however their journey often took about three days,” a supply accustomed to the case stated.
After exiting the airport terminal constructing, they went straight to a close-by automobile park and handed over the bags and backpack to individuals assigned to gather the money and take it to the Tsim Sha Tsui workplace.
In an try to keep away from detection, Yeung stated, the syndicate used totally different vehicles to select up the money on the airport and moved its operational centre to a different workplace in the identical district in April.
He stated the 2 workplaces have been rented by shell corporations which claimed to be concerned within the buying and selling of motor components, steel and digital and family merchandise, however the investigation discovered the 2 companies had no precise enterprise.
After gathering proof, officers swooped into motion within the early hours of Could 25 and raided the operations workplace, the place they arrested three males and seized US$5.3 million.
The cash had earlier been collected on the airport automobile park from two couriers who have been additionally arrested within the Tai Wai space of Sha Tin and Fanling on the similar time.
Wong stated the investigation indicated the cash was repackaged within the workplace earlier than somebody got here to select it up.
“The syndicate used bulk money smuggling operations in an effort to hide the circulation of the prison proceeds,” he stated.
The opposite 18 suspects, together with the 2 alleged ringleaders and two core members, have been rounded up throughout raids on greater than 20 areas throughout the town between Could 26 and Tuesday.
The suspects have been detained on suspicion of conspiracy to launder crime proceeds – an offence punishable by as much as 14 years in jail and a HK$5 million advantageous.
Wong stated customs was investigating the origin of the unlawful positive aspects, how the money was generated and its last vacation spot.
He added that they’d additionally sought assist from abroad legislation enforcement companies to analyze the 2 corporations in Turkey.
In August 2021, customs officers arrested 5 individuals in a crackdown on a money-laundering ring accused of smuggling practically HK$170 million (US$21.8 million) in suspected prison proceeds out of the town over three months through the Hong Kong-Zhuhai-Macau Bridge.
Town’s largest ever money-laundering case – involving HK$13.1 billion – got here to mild with the 2012 arrest of a mainland Chinese language man. He laundered the cash by his financial institution accounts between August 2009 and April 2010, making 4,800 deposits. In January 2013, he was sentenced to 10½ years in jail.
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