Hong Kong arrests seven in largest-ever money laundering case involving $1.8b

Hong Kong authorities have cracked their biggest money laundering case ever, involving some $1.8 billion. Seven people — all local residents — aged between 23 and 74 were arrested. One of them was the mastermind of the syndicate controlling the entire money laundering network. The authorities seized assets worth more than $20 million, including five properties and three commercial units. The scheme allegedly involved online scams in India, as well as the sale of electronics and rare gems including diamonds, among other goods.

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