Man on China’s most-wanted list admits money laundering in New Zealand court

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A Chinese-born New Zealand citizen on China’s most-wanted list was sentenced to five months home detention for money laundering on Wednesday after years of investigation by police from both countries.

The cooperation between the two countries comes as China seeks to drum up Western help in a campaign dubbed “Operation Fox Hunt” to track down corruption suspects who have fled overseas.

Businessman William Yan last year struck a deal with police to forfeit a record NZ$42 million (US$29 million) in assets allegedly obtained through fraud in China, but did not admit guilt at the time. He pleaded guilty on Wednesday at Auckland District Court.

Read the original article here: scmp.com


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