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Hong Kong Siblings Arrested in Crypto-Related Money Laundering Case

December 29, 2021
Source: u.today u.today
News Snapshot:
A brother (28) and sister (21) were arrested in Hong Kong on Tuesday after laundering $384 million (roughly $49 million) worth of tainted cash. They would deposit large amounts of money via ATMs at night in a total of 617 transactions. Over the course of the investigation, it was determined that the duo also transferred HK$38 million with the help of an unnamed cryptocurrency exchange for trading fiat money for stablecoins and then converting them into greenbacks. Apart from sending U.S. dollars to different personal and corporate accounts, the pair of suspects also kept a portion of funds in crypto...
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Tags: arrested | bitcoin | blockchain | cash | criminal | crypto | cryptocurrency | currency | fintech | fraud | Hong Kong | IT | KONG | police | prison | Total | U.S.

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