Hong Kong police arrest 17 in raids targeting crime syndicate collecting HK$240 million in illegal bets
- Suspects include six core members who used 1,000 sq ft industrial unit in New Territories to oversee money laundering accounts, lure punters to gaming website
- Syndicate laundered HK$240 million in crime proceeds through 18 bank accounts between June 2022 and April this year, police say
Hong Kong police arrested 17 people in a series of raids this week targeting a bookmaking and money-laundering syndicate that collected HK$240 million (US$30.6 million) in illegal bets and handled crime proceeds for 10 months, the force on Thursday said.
According to the force, the syndicate rented a 1,000 sq ft industrial unit in the New Territories to use as its operational centre. The group’s six core members, five men and one woman, allegedly controlled bank accounts and recruited punters via social media.
Senior Inspector Chan Lok-lun of the force’s financial intelligence and investigation bureau said the other 11 suspects held virtual bank accounts used to collect bets and launder the illegal funds.
“The investigation found the syndicate had laundered HK$240 million in crime proceeds through 18 bank accounts between June 2022 and April this year,” he said.
The syndicate also set up an overseas gambling website that featured games such as mahjong and baccarat, while also offering local residents money to set up bank accounts.