$15 Million Crypto Laundering Ring Crushed In Hong Kong’s Latest Financial Sting
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Hong Kong police have broken up a money‑laundering ring that moved 15 million through more than 550 accounts and crypto trades. Twelve suspects, aged 20 to 40, were arrested in operations across mainland China and Hong Kong. They now face charges of conspiracy to commit money laundering, Hong Kong Commercial Daily reported on May 17.
Recruitment Of Shell Account Holders
According to investigators, the group hired people from the mainland to open shell bank accounts. Those recruits received funds from various fraud schemes.
They withdrew cash with different ATM cards, then sent the money…
