Hong Kong police arrest 14 people in crackdown on HK$300 million money-laundering gang

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Hong Kong police have arrested 14 people and frozen about HK$70 million (US$9 million) in bank accounts in a clampdown on a triad-controlled money-laundering syndicate that washed more than HK$300 million of illegal funds in less than two years.A force insider said on Thursday that officers were trying to track down the remaining HK$230 million, which is believed to have been funnelled out of the city and transferred into mainland Chinese bank accounts.The detained 11 men and three women…
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