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| HK woman jailed for laundering $860m | HK woman jailed for laundering $860m |
| (about 3 hours later) | |
| A woman has been jailed for 10 years for laundering about $860m in Hong Kong. | |
| Lam Meiling, 61, made almost 40,000 bank transfers between 2002 and 2005. | Lam Meiling, 61, made almost 40,000 bank transfers between 2002 and 2005. |
| She said the money came from a factory owner from her hometown in Dongguan, and that her job was to transfer the money to other factory owners in mainland China. | She said the money came from a factory owner from her hometown in Dongguan, and that her job was to transfer the money to other factory owners in mainland China. |
| She was arrested in 2008 after two of her bank accounts were investigated. | She was arrested in 2008 after two of her bank accounts were investigated. |
| Lam said she was instructed by a former babysitter who had looked after her children before becoming a factory owner. | Lam said she was instructed by a former babysitter who had looked after her children before becoming a factory owner. |
| "[She] babysat my daughter, so in return I worked for her," local media quoted her as saying. | "[She] babysat my daughter, so in return I worked for her," local media quoted her as saying. |
| She said she received occasional monthly payments of HK $4,500 ($580; £388) in return for her services. She also said that she was illiterate. | She said she received occasional monthly payments of HK $4,500 ($580; £388) in return for her services. She also said that she was illiterate. |
| Justice Andrew Chan said that although Lam, accused of laundering around HK$6.7 bn ($860m; £580m), was not the mastermind behind the scheme, he had no doubt she was aware of what she was doing. | Justice Andrew Chan said that although Lam, accused of laundering around HK$6.7 bn ($860m; £580m), was not the mastermind behind the scheme, he had no doubt she was aware of what she was doing. |
| The case came to light after a Dutch citizen filed a fraud complaint that led to the investigation of two of Lam's many bank accounts. | The case came to light after a Dutch citizen filed a fraud complaint that led to the investigation of two of Lam's many bank accounts. |
| Local media say that the money was laundered through nine banks, and that Lam laundered an average of HK$155m ($20m; £13m) every month. | Local media say that the money was laundered through nine banks, and that Lam laundered an average of HK$155m ($20m; £13m) every month. |
| Hong Kong has become a popular place for mainland Chinese to set up companies, because it is easy for them to travel into Hong Kong, and as a free market, financial transactions are easier. | Hong Kong has become a popular place for mainland Chinese to set up companies, because it is easy for them to travel into Hong Kong, and as a free market, financial transactions are easier. |
| In some instances, people from mainland China have used accounts in Hong Kong to obscure their assets through money-laundering. | In some instances, people from mainland China have used accounts in Hong Kong to obscure their assets through money-laundering. |
| In January a 22-year-old delivery man from Guangdong province was convicted of laundering almost HK$13.1bn ($1.68m; £1.13) - the biggest money laundering case ever to be discovered in Hong Kong. | In January a 22-year-old delivery man from Guangdong province was convicted of laundering almost HK$13.1bn ($1.68m; £1.13) - the biggest money laundering case ever to be discovered in Hong Kong. |