A Hong Kong court has convicted the son of a former Chinese anti-corruption official of money laundering, shedding light on how illicit funds and bribes from the Chinese mainland are funneled through underground networks into the city’s financial system.
On Tuesday, the Hong Kong District Court found Xiao Rui, the 37-year-old son of former Wuhan Supervisory Commission member Xiao Jun, guilty of four counts of money laundering and one count of using copies of false instruments. The court determined that Xiao Rui laundered more than HK$64 million ($8.16 million) and accepted HK$4.72 million in bribes on behalf of Xiao Jun.
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