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JULIE CHU

A Shenzhen driver who opened a bank account in Hong Kong and allowed others to use it to launder HK$2.5 billion within a year was jailed for six years in the High Court yesterday.
Lai Haiwei, 30, pleaded guilty to one count of conspiracy to launder money.
Mr Justice Patrick Li Hon-leung said: "There was no evidence to show you knew the crime behind the laundered money. However, you must have known the money was related to something illegal."
Li said the amount involved was an important element he had to consider in passing sentence.
Prosecutor Thomas Iu said the police discovered Lai had formed a company and opened a bank account while investigating an email fraud case in 2012.
US company Rockwood Manufacturing received an email from a Taiwan supplier asking it to transfer US$1.152 million to two bank accounts in Hong Kong.
After the payment was made, Rockwood discovered the email was not sent by the supplier.
A report was made to the Hong Kong police, who found that the money in the two accounts had been transferred to a bank account in the name of Hong Kong Xing Xing Xing Company, which had been opened by Lai.
Iu said Hong Kong Xing Xing Xing was registered in the city on January 20, 2012. Lai was the only shareholder and director.
Between April and November 2012, there were almost 4,000 transactions totalling US$319 million. Most were made through ebanking and between local accounts.
Lai was arrested when he entered Hong Kong on January 7 last year. He claimed he was only a driver who received primary education on the mainland and earned 2,000 yuan (HK$2,420) a month.
He claimed a Mr Ma asked him to form the company and open the account in Hong Kong. He only met Ma a few times and had no idea about the nature of the transactions.
Lai's lawyer, Bernard Yuen, explained that Lai was dragged into the syndicate as Lai's wife suffered a miscarriage and he needed money to pay for her medical fees. A colleague offered to lend money to Lai and afterwards asked him to help a friend open the account.


Big money: Shenzhen driver jailed for six years after Hong Kong account he set up laundered HK$2.5b

Lai Haiwei's account recorded almost 4,000 transactions totalling US$319 million. Photo: SCMP 

News

Hong Kong

Law and Crime

Man jailed for six years after he was asked to set up HK bank account
