Hong Kong customs arrests 5 in suspected HK$8.9 billion ‘phantom trading’ racket

    Hong Kong customs arrests 5 in suspected HK$8.9 billion ‘phantom trading’ racket

    Hong Kong customs has arrested five people on suspicion of laundering HK$8.9 billion (US$1.1 billion) in suspected crime proceeds over a four-year period, with investigators for the first time uncovering a syndicate using sophisticated fake shipping websites for “phantom trading”. Senior Investigator Tsoi Kim-fai of customs’ financial investigation bureau said on Tuesday that the operation…

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    Vote to disband Hong Kong’s Democratic Party looms as members weigh ‘rough ride’

      Vote to disband Hong Kong’s Democratic Party looms as members weigh ‘rough ride’

      For years, Winfield Chong Wing-fai, an executive committee member of the Democratic Party and long-term advocate against bid-rigging, has juggled countless invitations from Hong Kong residents to attend meetings of owners’ corporations, so homeowners can seek his advice on building maintenance projects. The number and frequency of those invitations increased exponentially after last month’s deadly…

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