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Xiao Rui, Son of Former Wuhan Official, Sentenced to 6 Years 9 Months for Laundering HK$64M

2026-07-26 03:03:59

BTC0.83%

According to Caixin, Xiao Rui, 37, was convicted on July 23 by Hong Kong District Court on four counts of money laundering and one count of using a forged document. The son of a former Wuhan Discipline Commission member laundered over HK$64 million through underground money changers and obtained fraudulent Hong Kong residency. He was sentenced to 6 years and 9 months imprisonment. Xiao Rui had claimed the funds came from his mother's legitimate business and bitcoin sales; the court rejected both arguments, citing lack of transaction records for the cryptocurrency sales.

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