Hong Kong Customs has arrested two men in connection with a massive money laundering operation involving about HK$4.7 billion in suspicious funds and dismantled a dangerous drug packing and distribution centre.
In an operation codenamed "Axis" on Wednesday, Customs officers arrested a 66-year-old local man suspected of dealing with funds of unknown sources through his two company bank accounts between April 2022 and February 2026. Financial investigation revealed his background was highly inconsistent with the enormous transactions conducted.
During a follow-up search of one of the subject companies' business premises, officers seized a bankbook counter, cash, bank cards, and suspected dangerous drugs including cannabis buds, cannabis oil products, cocaine, methamphetamine, ketamine, MDMA tablets worth about HK$300,000. A batch of suspected drug packaging paraphernalia, inhalation apparatuses, about 9,000 duty-not-paid cigarettes and suspected nicotine oil were also seized.
A 36-year-old local man was arrested at the commercial premises for allegedly operating a drug packing and distribution centre.
Customs said further arrests are possible as investigations continue under the Organized and Serious Crimes Ordinance, Dangerous Drugs Ordinance, Dutiable Commodities Ordinance and Pharmacy and Poisons Ordinance. Under OSCO, dealing with property knowing it represents crime proceeds carries a maximum penalty of a HK$5 million fine and 14 years' imprisonment, with confiscation of proceeds.
