The acquittals cast doubt over the future of $77m in assets seized in the inquiry
Four men painted as the key figures in Hong Kong's biggest money-laundering operation, alleged to have processed more than $92 million a day, walked free last night after a High Court jury acquitted them.
The two remaining men on the indictment - who also faced a count of conspiracy to deal with property knowing or believing it to represent the proceeds of an indictable offence - face a retrial after the jury failed to reach a decision after three full days of deliberation.
Last night's decision throws in doubt the future of the millions in assets seized following the investigation. Authorities had reported seizing $77 million worth of bank accounts and property.
Further and separate court hearings on the confiscation orders will be held at a later date.
Acquitted of the money-laundering charge were: Lam Yiu-chung, 48, former senior manager of Po Sang Bank; Judas Yip Heong-wing, 54, director and major shareholder of Guardecade; Wong Sung-kai, 38, who also held Guardecade shares; and courier Chiu Kam-lung, also known as Yau Kuk-hoi, 27.
Chan Chung-ming, 43 and Wong Sung-tak, 31, will face a retrial on the count.