Police chief oversees 2-year planned operation to crack record-breaking money laundering scheme run by triad boss

Police conducted a massive anti-triad operation, which was planned and overseen directly by Police Commissioner Joe Chow Yat-ming as early as two years ago, successfully dismantled the largest money laundering case in history and arrested 82 individuals involved in nearly HK$40 billion of illicit funds.

Through an in-depth investigation, East Week Magazine -- a sister publication of The Standard -- has revealed that Chow handpicked elite officers from four key departments—the Organized Crime and Triad Bureau (OCTB), Financial Intelligence and Investigation Bureau (FIIB), Commercial Crime Bureau (CCB), and Criminal Intelligence Bureau (CIB)—to form a cross-departmental task force for the raid.

The sweeping operation targeted a man surnamed Chan -- also known as "Sai B" -- who is the Tsim Sha Tsui boss of a local triad group and his vast criminal network of followers and illegal businesses spanning vice, gambling, drugs, and protection rackets.

Chan's network extended to Macau and overseas, where he allegedly set up shell companies and trust service firms to launder money and fraudulently obtain bank loans through fake trade deals.

Sources reveal that after amassing immense wealth, Chan converted luxury villas into private entertainment dens, hosting lavish parties with escorts to reward his underlings and business associates. 

Shockwaves in the underworld

The arrest of Chan in the HK$40 billion money laundering case has sent tremors through the underworld. 
Insiders disclosed that "Chan and several key suspects have each been granted HK$1 million bail and calculating their chances of beating the case in court—or whether they should flee Hong Kong." 

Among those arrested for aiding Chan in money laundering were his parents, sister, children from his late wife, aunts, and cousins—but notably, none of his key henchmen were implicated. 
"This is a typical arrangement from the triad bosses," An insider explained. "No matter how close their 'brothers' are, money disputes and betrayals are common. That's why they entrust family members to handle finances instead." 

Commissioner's secret 2-year plan

Police had been planning the takedown for years, with Police Commissioner Chow personally overseeing the strategy since his tenure as Deputy Commissioner. 

The operation, culminating last Friday, dismantled Chan's syndicate, arresting 82 individuals aged 19 to 78, including company directors, shareholders, employees, and triad members.

Luxury villa, private jets & underground gambling dens

Chan, 44, rose through the triad ranks and was previously arrested in 2010 for money laundering alongside his wife, who later committed suicide at Lei Yue Mun, leaving behind two young children. 

Since then, Chan has operated even more cautiously.

Despite his low-profile post-prison, Chan lived extravagantly—luxury cars, private jets, yachts, and multiple villas in Kowloon Tong and Clear Water Bay converted into exclusive entertainment hubs. 

His Clear Water Bay villa is still fully equipped—mahjong tables, karaoke, massage rooms, and even a rare collection. He regularly hosted high-stakes gambling nights, during which the bets ranged from several million to tens of millions per night, with young women and fellow triad bosses in attendance.
Chan also had multiple mistresses from Malaysia and Macau, some bearing his children, who helped manage his assets to distance him from illegal proceeds.

Police on high alert for turf wars

With Chan's arrest, fears of violent power struggles loom. Police are closely monitoring to prevent bloodshed.

"Combating triads and financial crimes remains a top priority. We will enhance cross-border cooperation to ensure Hong Kong's safety and financial stability," OCTB said.