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Former official’s son jailed for HK$64 million laundering scheme
Court said a two-year Hong Kong visa was granted after the defendant submitted two bogus bank statements as part of a cash-for-residency effort.
South China Morning Post reports that the District Court sentenced Xiao Rui, 37, to six years and nine months in prison for money laundering and using false instruments connected to offenses committed between 2013 and 2023.
The court found Xiao used deceptive means to secure residency in Hong Kong, including allegedly undermining a cash-for-residency scheme by misleading the Immigration Department into granting him a two-year visa using two bogus bank statements.
According to SCMP Economy, prosecutors said Xiao laundered more than HK$64 million, about US$8.2 million, and the judge said he had handled the illicit proceeds for nine years by channelling money into the city through an underground bank.
The outlet also notes that Xiao Rui’s father, Xiao Jun, is a former anti-corruption chief at the People’s Procuratorate in Wuhan, and the family is under investigation by mainland authorities, while official data cited show roughly 90 percent of approved cases involved Chinese nationals with permanent residence abroad.