Burst
Written by: Zhu Yashuang
2019-12-19 23:28
Last updated: 2019-12-19 23:28Police today arrested a shell company with 3 men and 1 woman involved in money laundering and alleged that they were related to the Spark Alliance. Police said that most of the 80 million yuan raised by Spark went to the company, which was mainly used to buy personal investment products. The beneficiary was a director of the company, one of the arrested persons. During the operation, the police seized a supermarket cash receipt and armor for the purchase of about 160,000 yuan, which did not exclude the fund from being used as compensation for young people's demonstrations. It is understood that when the police found a large amount of suspicious transactions for active investigation, the arrested person was found to be related to the Spark Alliance.
Police: Inspection of $ 160,000 in supermarket cash receipts does not exclude compensation for young people's demonstrations
Police said three men and one woman were arrested for money laundering in connection with the Spark Alliance. The police seized cash coupons and equipment from arrested demonstrators in the past few months. During the operation today, a seizure of 3,300 pieces of cash coupons worth about 160,000 yuan and some helmets and personal equipment were seized. The police did not rule out the fund in In a way, it is used as a reward for young people's activities.
P: Funds have a lot of money
Acting Senior Superintendent Chen Weiji of the Wealth Investigation Unit of the Narcotics Bureau said that the Spark Alliance had raised 80 million yuan in the past, and most of the inflows went to the shell companies involved. They were mainly used to purchase personal investment insurance products, and the beneficiaries were the heads of the shell companies. Chen pointed out that the fund had given a small number of arrested demonstrators, "but also a lot of money to know the people."
Proactive investigation of suspicious transactions found that Spark donates to buy personal investment products
It is understood that the Wealth Investigation Unit of the Police Narcotics Bureau found that a shell company had engaged in a large amount of suspicious transactions involving personal investment products. The beneficiary was one of the arrested persons in this operation. It was found that it was related to the Spark Alliance. Sources said that the arrested person had set up a clean service company for many years and had no record of cash in and out, but in the past six months, there have been frequent cash transaction records, which caused bank suspicions and made suspicious transaction reports to the police. The police conducted an investigation and discussed the matter with the Department of Justice before conducting an arrest operation. Hong Kong 01 found that the arrested person was the sole director of two service management companies, which were established in 2011 and last month, respectively.
Barrister Lu Weixiong said that the police and the prosecution needed to prove that the money was a crime. (Profile picture)
Managers have the right to use funds for investment to enhance value
Barrister Lu Weixiong said that the police ’s current plot appears suspicious, involving shell companies, arrested persons whose jobs are not commensurate with their income, and purchasing personal investment products, but all of them can be explained, such as depositing money in a bank with low interest, regardless of whether the money is donated As long as it is legal, the manager has the right to use the money for investment as an investment tool. When it is actually used, the value of the money can be increased. "I don't think that investment must be related to black money."
Police and prosecution must prove money is black money
Lu Weixiong expects that the police will not use clues to prosecute, but have sufficient substantive evidence to prove that the money is black money of unknown origin, not a donation or crowdfunding, but the proceeds of crime or money related to terrorist activities. Criminal prosecutions must reach zero. Without reasonable doubt, even if a basket is suspicious, it cannot be convicted in court. The police must conduct further investigations, and the arrested person can provide the source information of the money to release the doubts as soon as possible. Even if the cash cannot be traced to the source and cannot represent the cash as black money, the police and the prosecution have the burden of proof. "The responsibility should not fall on the defendant, and you should not have enough evidence to tell people".
[Frozen Spark] Police Allege 70 Million Starfire Alliance Involved in Money Laundering Response: Condemn Discrimination
[Frozen Spark] Civilian Support for the Arrested Fund was established after the Spark Alliance riots in Mong Kok
[Frozen Sparks] Police Refers to Spark Alliance's Money Laundering Freezes $ 70 Million, Detains Four
Spark Alliance anti-revision demonstration