Hong Kong gangster boss 'Siu B' arrested! 40 billion HKD money laundering empire collapses, lavish spending on virtual assets and luxury goods
Recently, the Hong Kong police launched a large-scale anti-triad operation codenamed 'Hidden Arrow', raiding multiple locations across Hong Kong, dismantling a criminal network suspected of handling nearly 40 billion HKD in dirty money. They arrested 82 individuals suspected of being triad members and related persons, including a 44-year-old gang leader. According to reports from several Hong Kong media, including 'Hong Kong 01', this individual is the current leader of Sun Yee On, nicknamed 'Siu B', and among those arrested are 'Siu B's' parents, cousins, aunt, and other relatives. During the operation, the police froze 1.13 billion HKD and seized assets valued at over 15 million HKD, including 8.26 million HKD in cash, approximately 1,100 bottles of high-end wines, luxury watches, handbags, gold bars, and a large number of bank documents, with a total value exceeding 7 million HKD. During the investigation, police found that the trust company held several different bank accounts. A large amount of funds of unknown origin was transferred to the trust company's bank accounts through various shell companies, and the relevant funds were quickly transferred to multiple personal accounts. Some of the funds were used to purchase virtual assets or to pay off personal credit card bills of the trust company's directors, including purchasing luxury items such as designer handbags, watches, and jewelry. (Caixin)