The son of a former Chinese anti-corruption official has been remanded in custody in Hong Kong for laundering over HK$64 million. Xiao Rui, 37, also faces penalties for using fraudulent bank records to obtain residency in Hong Kong through a cash-for-residency scheme. He channeled the funds through an underground bank over nine years, and the court found no reason to believe the money originated from lawful activity. AI
RANK_REASON This is a crime report about an individual, not a significant industry event.
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