Hong Kong Sentences Chinese Official’s Son to Prison in Money-Laundering Scheme

A Hong Kong court sentenced the son of a former senior Chinese official to nearly seven years in prison on Thursday for laundering more than HK$64 million ($8.16 million) in illicit funds and fraudulently securing residency in the financial hub. 

Xiao Rui, 37, was convicted in the District Court on four counts of money laundering and one count of using copies of false instruments. The case highlights how individuals from the Chinese mainland use underground banks and Hong Kong’s financial system to obscure illicit wealth.