An owner of an asset management company was charged by the ICAC on June 12 for allegedly laundering crime proceeds of about $50 million through a number of companies and individuals.
Xiao Rui, 35, an owner of Augustine Holdings Limited (AHL), faces two counts of dealing with property known or believed to represent proceeds of indictable offence, contrary to Section 25(1) of the Organized and Serious Crimes Ordinance. He was released on ICAC bail, pending his appearance at the Eastern Magistrates’ Courts tomorrow (June 14) for mention.
Resources: https://www.icac.org.hk/en/p/press/index_id_1894.html
