Police dismantle alleged triad group that ran account centres to launder HK$600 million
Hong Kong police have arrested 147 people after uncovering a triad syndicate suspected of setting up centres to coordinate bank accounts and handle HK$600 million (US$76 million) in allegedly illicit proceeds. Police said on Sunday that they had conducted a citywide operation code-named “Rapidhorse” over the previous two days against the syndicate allegedly operating drug and illegal gambling…
Hong Kong police have dismantled a triad syndicate that operated account centers to launder illicit proceeds amounting to HK$600 million (US$76 million). The operation, code-named "Rapidhorse," involved a two-day citywide sweep against the syndicate suspected of running drug and illegal gambling dens in Kowloon and the New Territories.
A total of 147 people, including the syndicate's mastermind, nine core members, and 12 other members, were arrested. Assets worth approximately HK$5 million were seized, including cash, vehicles, jewelry, luxury watches, weapons, drugs, and gambling equipment. The syndicate had established a complex financial network with a clear division of labor, utilizing stooge account holders to open online bank accounts and launder illicit funds through designated money-laundering centers.
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