A company owner yesterday admitted allowing more than HK$2.2 billion to be laundered through the company's accounts in three months.
Wong Lan-chun, 69, pleaded guilty in the Court of First Instance to three counts of laundering the money between January and March 2010.
Judge Andrew Chan Hing-wai adjourned Wong's sentencing to October 28 for mention.
A man said to have been the company's assistant manager, Chan Tsz-yin, will face trial that month on charges related to the same case.
Prosecutor Hermina Ng Wing-hin told the court Wong was the registered owner of a company called Shun Fat for which he opened three accounts.
Wong claimed the main business was garment trading.
The police later found that in the first three months of 2010, more than HK$2.25 billion had passed in and out of the three accounts.
Arrested for investigation, Wong said "someone" had asked him to open a company called Shun Fat in February 2009. He was told money would be deposited in its accounts and that he would receive HK$3,500 a month as a reward.
He claimed he gave the bank passbooks and documents to Chan and the accounts were mainly operated by Chan.
He received his first monthly payment in January 2010 but said he did not know the details of the transactions through the accounts.
Three days after his first arrest, he reported to the police that his company accounts had been used for transferring money.
He closed the company in October 2011.
Wong was rearrested on December 5 last year.
Ng said Wong admitted that he knew the three accounts had been used for laundering money during the first three months of 2010.
According to the bank's records, the equivalent of more than HK$2.26 billion had been deposited into the three accounts of Wong's company and more than HK$2.25 billion had been withdrawn.
The money included Hong Kong dollars, US dollars and euros.
Wong is in custody pending sentence.