Money laundering suspect fined $42m in NZ
24 Aug 2016

New Zealand police say they have reached a deal with a China-born businessman for him to pay a record NZ$42 million (S$41.5 million) fine to settle legal action following an investigation with China into money laundering.

Mr William Yan, a New Zealand citizen, is accused of embezzlement and is on China’s most-wanted list of international fugitives.

His assets were seized by New Zealand courts two years ago while police investigated whether they were the proceeds of money laundering in China.

You can claim CPD minutes for this content, by signing up to our CPD Wallet

FREE CPD Wallet

You must be logged in to post a comment.

This site uses Akismet to reduce spam. Learn how your comment data is processed.