Two Women Jailed for Smuggling HK$280 Million from Mainland China to Hong Kong
Two women, Luo Xiaoping and Xiang Yurong, have been sentenced to prison in Hong Kong for money laundering after smuggling over HK$280 million in cash from mainland China between 2018 and 2019. Luo received a sentence of four years and ten months, while Xiang was jailed for three years by the District Court. The court found that Luo transported approximately HK$270 million across border checkpoints in over 100 instances, often carrying more than HK$1 million per trip. Xiang facilitated the transfer by moving smaller amounts, averaging ten trips per month. Although the defense argued that prosecution delays undermined the case, Deputy Judge Lily Wong rejected this, citing the defendants' greed and the negative impact on financial systems. This marks the first conviction under the Cross-boundary Movement of Physical Currency and Bearer Negotiable Instruments Ordinance since its enactment in July 2018, which mandates declaration of cash exceeding HK$120,000. The Hong Kong Customs and Excise Department highlighted the significance of the ruling in combating cross-border financial crimes.
Wire timeline
Two Women Jailed for Smuggling HK$280 Million from Mainland China to Hong Kong
Two women, Luo Xiaoping and Xiang Yurong, have been sentenced to prison in Hong Kong for money laundering after smuggling over HK$280 million in cash from mainland China between 2018 and 2019. Luo received a sentence of four years and ten months, while Xiang was jailed for three years by the District Court. The court found that Luo transported approximately HK$270 million across border checkpoints in over 100 instances, often carrying more than HK$1 million per trip. Xiang facilitated the transfer by moving smaller amounts, averaging ten trips per month. Although the defense argued that prosecution delays undermined the case, Deputy Judge Lily Wong rejected this, citing the defendants' greed and the negative impact on financial systems. This marks the first conviction under the Cross-boundary Movement of Physical Currency and Bearer Negotiable Instruments Ordinance since its enactment in July 2018, which mandates declaration of cash exceeding HK$120,000. The Hong Kong Customs and Excise Department highlighted the significance of the ruling in combating cross-border financial crimes.
Hong Kong Free Press HKFP