Money laundering carries a maximum jail term of 14 years and a fine of HK$5 million in Hong Kong. Photo: Shutterstock
Money laundering carries a maximum jail term of 14 years and a fine of HK$5 million in Hong Kong. Photo: Shutterstock

Police bust fraud syndicate, arrest 24 accused of conning Hong Kong credit card companies out of HK$85 million

  • Gang opened shell companies and issued bogus employment letters and income certificates to stooges to apply for more than 200 personal credit cards, police say
  • Some 15 men and nine women, aged 23 to 67, were arrested for conspiracy to defraud and money laundering following police raid on 32 locations across city

Money laundering carries a maximum jail term of 14 years and a fine of HK$5 million in Hong Kong. Photo: Shutterstock
Money laundering carries a maximum jail term of 14 years and a fine of HK$5 million in Hong Kong. Photo: Shutterstock
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