Bail jumper sacrifices $30m

2014-02-20

An arrest warrant has been issued for a young mainland woman who jumped her HK$30 million cash bail while awaiting trial in a HK$10 billion money- laundering case.

The court will hold a hearing on March 19 to decided whether or not to forfeit two sureties totaling HK$10 million that she offered in addition to her cash bail. The 22-year-old unemployed woman, who holds a two-way permit, was arrested in June but was allowed bail after six months of detention.

A source suggested it may be Hong Kong's biggest case of bail jumping.

The Tsuen Wan Magistrates' Court heard that Zhao Danna was accused of laundering HK$10 billion between December 6 and 21, 2012, via eight of her Bank of China accounts.

At yesterday's hearing, the prosecution told principal magistrate Joseph To Ho-shing that Zhao had not reported to the police as required by her bail terms since January 7.

The prosecution said the two guarantors told the police they do not know where Zhao has gone. The prosecution requested the court issue an arrest warrant and for the police to trace Zhao.

The prosecution also said that after seeking legal advice, it will now lay a total of eight charges against Zhao and will ask for the case to be heard in the High Court.

It is believed to be one of Hong Kong's largest money-laundering cases after young mainlander Luo Juncheng was jailed for 10 and a half years last year for laundering a record HK$13.1 billion.

Luo laundered the fortune through a Hong Kong bank over an eight-month period ending in 2010.

According to police figures, 140 people were convicted of money laundering last year, compared with 166 in 2012 and 246 people in 2011.

Source: The Standard