'No evidence' HK$230m was dirty money

Lawyers for two people convicted of laundering a total of HK$230 million insisted in court yesterday that there was no evidence the money was the proceeds of crime.

The arguments came during a mitigation session before sentencing of solicitor Wu Wing-kit, 57, and Ye Fang, 43, wife of a former director of listed company Natural Dairy Holdings.

"In the world of possibility, it is possible" that the money came from crime, said senior counsel Andrew Bruce, for Wu. But he added there had been no such evidence in court to support the possibility.

Wong Man-kit SC made a similar assertion on behalf of Ye.

The pair, who had pleaded not guilty, were convicted on Monday - Wu of laundering HK$68.95 million and Ye of laundering HK$230 million, including the funds from Wu.

Yesterday, the public seating was packed with supporters of the pair including Ye's husband, Chen Keen, and Wu's wife, who burst into tears halfway through the mitigation.

The court previously heard that between December 2009 and February 2010, Natural Dairy had raised HK$790 million to acquire 22 dairy farms in New Zealand. It was alleged that of the HK$790 million, HK$693 million was remitted to a lawyer representing Natural Dairy.