Live coral smuggling investigation leads to detection of money laundering case involving HK$7.4 million

A man was arrested in a suspected money laundering case involving about HK$7.4 million after a follow-up investigation on a live coral smuggling case identified in 2022 by customs.

Officers raided the home of a 35-year-old man in Tsing Yi on Thursday and seized a batch of bank cards and documents as well as a mobile phone. The man was arrested for money laundering.

Customs detected a sea smuggling case in July 2022, with three men arrested and seized a batch of goods including suspected scheduled live corals that worth around HK$800,000.

A subsequent investigation revealed the personal bank accounts of one of the arrestees had numerous suspicious transactions with over 700 parties between April 2021 and September 2023. The funds, about HK$7.4 million in total, were suspected to be crime proceeds connected with the smuggling case.

The man arrested today has been released on bail pending investigation. Customs said the likelihood of further arrests has not been ruled out.