MONEY LAUNDERING

Muay Thai group leader and wife arrested for laundering HK$267 million

Police claim couple used seven bank accounts over seven-year period

PUBLISHED : Wednesday, 04 January, 2017, 9:15am
UPDATED : Wednesday, 04 January, 2017, 10:03am

A prominent Muay Thai organisation leader who has been linked to Hong Kong triad activities in the past has been arrested along with his wife for laundering more than HK$267 million over a seven-year period.

Lee Yuk-tim, a former president and now honorary superintendent of the Hong Kong Muay Thai Association, and his wife, both 59, were arrested in a police raid code-named “Hardfrost” on Tuesday.

Officers from Kowloon East regional crime unit swooped on their home in Marina Cove in Sai Kung.

An investigation showed Lee – nicknamed “Ghost Tim” – and his wife had laundered more than HK$267 million using seven bank accounts from August 2007 to October 2014, a police spokesman said.

Some bank documents, cash and jewellery were seized from the home.

The spokesman said a couple whose background involved triad activities had been detained for questioning.

Hong Kong Police hunt leaders of two Sun Yee On triad factions after tit-for-tat attacks

In 1996, Lee was arrested in Macau for several offences after being on the run for years. He was eventually jailed in Hong Kong for eight months.

In July 2007, Lee was arrested again when Hong Kong police cracked down on triad gang Sun Yee On, prompted by vandalism directed at New World Development properties, including the company’s headquarters in Central, two hotels and 16 mobile phone shops.