Foresight News posted on X (formerly Twitter) that a Hong Kong court has convicted Xiao Rui, the son of Xiao Jun, a former member of the Wuhan Municipal Supervisory Commission, on multiple money-laundering-related charges involving tens of millions of Hong Kong dollars.
According to details cited from Caixin, Xiao Rui was accused of receiving about HKD 4.72 million in bribes on behalf of his father from mainland engineering contractors and laundering more than HKD 64 million through underground banking channels.
On June 23, the Hong Kong District Court found Xiao Rui guilty on four counts of money laundering and one count of using a copy of a false instrument. The judge is scheduled to announce sentencing on July 23.
The report said Xiao Rui was approved for residency in Hong Kong in 2014. That year, he used his HSBC account to purchase two Sun Life Financial funds for HKD 10 million to meet investment requirements tied to the entry program. Between January 2016 and September 2017, his Standard Chartered and DBS accounts received multiple remittances totaling more than HKD 54 million.
In court, Xiao Rui argued that the funds were legitimate business proceeds earned by his mother and gifted to him for investment in Hong Kong, and that part of the money came from selling Bitcoin. The judge rejected the Bitcoin-related testimony, citing Xiao Rui’s inability to provide basic records such as transaction dates, reference numbers, or wallet addresses.
Hong Kong Court Convicts Son of Former Wuhan Supervisory Official of Money Laundering
2026-06-24 13:37:58
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