May 10 2017
A controversial Chinese businessman who was the target of New Zealand’s biggest single forfeiture of money has been sentenced for money laundering. William Yan, also known as Bill Liu, had earlier pleaded guilty to one representative charge of money laundering in March.
At the Auckland District Court on Wednesday he was sentenced to five months’ home detention. In August last year, police seized a record-breaking $42.85m from Yan and two associates which was the full and final settlement on civil proceedings. However, a criminal investigation was still underway.