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.
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