Man jailed for money laundering
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A 23-year-old man convicted of money laundering was sentenced to two and a half year's imprisonment by the District Court today (May 27).

The court heard that in October and November 2008, four overseas victims separately came to know a man through the Internet and were persuaded to invest in a financial product.

The victims remitted a total of $4.9 million into bank accounts in Hong Kong held by the defendant but they failed to contact him later.

Officers of Technology Crime Division of Commercial Crime Bureau took over the case for investigations and the defendant was arrested in Mong Kok on November 13, 2008. He was subsequently charged with seven counts of dealing with property known or believed to represent proceeds of an indictable offence.

He was convicted and sentence was handed down in District Court today.

Police Report No. 5
Issued by PPRB

Ends/Wednesday, May 27, 2009
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