HONG KONG AND MACAO MAY BAN MONEY LAUNDERING, BUT ENFORCEMENT OF LAWS IS UNEVEN
February 1st, 2016
Back in March 2014, a Hong Kong businessman named Joseph Lau Luen-hung was sentenced in absentia to five years and three months in prison by Macau’s Court of First Instance.
Lau had been found guilty, along with along with fellow businessman Steven Lo Kit-sing, of money laundering and paying a Hong Kong dollars HKD20 million (USD2.5 million) bribe to Macau's former secretary of public works, Ao Man Long, who is himself serving a 27-year jail term (for bribery charges).
Yet to date neither Lau – who just happens to be one of Hong Kong’s richest men, a real ...
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