Woman Jailed Over HK$6bn Money Laundering Case

A 63-year-old woman was jailed for six years and eight months by the High Court on Friday after a bank account she set up was used to launder almost HK$6 billion.

The court heard that the mainland woman set the account up for a trading company in return for a few thousands dollars.

She then handed control of the account to a man before returning to the mainland.

Police said they found that billions of dollars had passed through the account in 2011 and 2012, even though the company was barely carrying out any business.

The woman had earlier pleaded guilty to conspiracy to launder.

Acting chief inspector Sum Ho-man said after sentencing that the force was searching for others involved in the laundering.

"During the investigation, we found that the concerned account had transactions with over 600 companies. Given the volume of the transactions, the investigation is still ongoing. We can't rule out that more people will be arrested in this case," he said.