TWO company directors involved in the world's largest money laundering case were yesterday convicted of helping a notorious drugs king conceal a multi-million dollar fortune.
Lo Chak-man and Tsoi Sau-ngai played a crucial role in salting away $56.47 million belonging to trafficker Law King-man.
Law, 40, was behind a multi-million dollar operation, said to be run by the Sun Yee On, which smuggled hundreds of kilos of heroin from Thailand to the United States.
The laundering operation is the largest in the world uncovered by police.
Investigators say Law 'cleaned' US$93 million (HK$717.9 million) through about 300 bogus accounts in Hong Kong banks.
Outside court Senior Inspector Martin Richardson of the Narcotics Bureau said: 'I'm very, very pleased. It's the first money laundering case we've had. The conviction is a very good result . . . I hope it will lead to many other cases. It's very important we try to take all the assets from drug traffickers.' Law's brother Lo, 33, and nephew Tsoi, 47, are the first people to be convicted under new legislation which makes it an offence to assist another to retain drug trafficking proceeds.
