Hong Kong businessman Carson Yeung was sentenced to six years in jail on Friday for money laundering in a high-profile case that law enforcement officials hailed as an important victory to combat money laundering in the global financial hub.
Yeung, 54, who was found guilty by a Hong Kong court on five counts of money-laundering some HK$721 million ($93 million) over several years, is a flamboyant self-made millionaire and owner of British football club Birmingham City.
In the detailed exposition of hundreds of suspicious transactions made by Yeung and multiple parties, the trial cast a rare spotlight on some of the murky channels and methods used by underground banks and money launderers in moving illicit capital between , Hong Kong and the gambling hub of Macau. “Maintaining the integrity of the banking system is of paramount importance if Hong Kong is to remain an international finance center,” said Judge .
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