A A
B B
DCCC 276/2024
C [2025] HKDC 1346 C
D D
IN THE DISTRICT COURT OF THE
E HONG KONG SPECIAL ADMINISTRATIVE REGION E
CRIMINAL CASE NO 276 OF 2024
F F
G ---------------------------- G
HKSAR
H H
v
I KO LOK YAN MANDY I
----------------------------
J J
K Before: His Honour Judge Tam in Court K
Date: 6 August 2025
L L
Present: Mr Lee Chuk Kwan Derrick, Public Prosecutor, for HKSAR
M Mr Lau Hon Wang Kenny, instructed by M C A Lai Solicitors M
LLP, assigned by the Director of Legal Aid, for the defendant
N N
Offences: [1] – [4] Dealing with property known or believed to represent
O proceeds of an indictable offence (處理已知道或相信為代 O
P
表從可公訴罪行的得益的財產) P
Q Q
---------------------------------------
R REASONS FOR SENTENCE R
---------------------------------------
S S
T T
U U
V V
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A A
B B
1. Ms Ko pleaded guilty before me to 4 charges of Dealing with
C proceeds known or believed to represent proceeds of an indictable offence, C
contrary to section 25(1) and (3) of the Organized and Serious Crimes
D D
Ordinance, Cap 455.
E E
2. Particulars of the charges are that she, between A(1) and A(2),
F F
in Hong Kong, knowing or having reasonable grounds to believe that
G property, namely a chose in action in a total sum of B Hong Kong currency G
in the account numbered C held under the name of herself with D, in whole
H H
or in part, directly or indirectly represented the proceeds of an indictable
I offence, dealt with the said property. I
J J
3. For Charge 1, A(1) is 25 February 2021; A(2) is 7 April 2021;
K B is $15,344,050.59; C is 880000032989; D is Airstar Bank Limited. K
L L
4. For Charge 2, A(1) is 22 May 2021; A(2) is 1 June 2021; B is
M $2,395,599.00; C is 012-358-2-005466-1; D is Bank of China (Hong Kong) M
Limited.
N N
O 5. For Charge 3, A(1) is 8 March 2021; A(2) is 24 March 2021; O
B is $2,196,064.50; C is 50903446; D is Citibank (Hong Kong) Limited.
P P
Q 6. For Charge 4, A(1) is 13 December 2020; A(2) is 7 April 2021; Q
B is $2,133,143.00; C is 1000783820; D is Welab Bank Limited.
R R
S S
T T
U U
V V
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A A
B B
Facts admitted by Ms Ko
C C
7. At all material times, Ms Ko was the sole holder and sole
D D
authorized signatory of the four bank accounts under the 4 charges.
E E
8. Six citizens fell prey to investment scam. Scammer whom
F F
they met through mobile app or unsolicited text message deceived them
G into making investment through an untrusted website or mobile app. To G
make investments (which never existed), each of them followed the
H H
scammer’s instructions to pay money into designated bank accounts,
I including the Citibank Account subject of Charge 3, as investment capital, I
between 15 and 21 March 2021. The total funds paid into the Citibank
J J
Account by the six citizens amounted to HK$539,300, although the losses
K suffered by them were much more. K
L L
9. After they realized they had been deceived, they reported the
M matters to the Hong Kong Police. M
N N
Charge 1: Airstar Bank Account
O O
10. On 24 February 2021, Ms Ko applied to set up a personal bank
P P
account with the Airstar Bank Limited (subsequently known as the Airstar
Q Bank Account). Q
R R
11. In her application to set up the Airstar Bank Account, Ms Ko
S submitted three selfies, a photo of her HKID card, and a video of herself S
showing the HKID card, as proof of identity.
T T
U U
V V
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A A
B B
12. In the same application, Ms Ko claimed, inter alia:
C C
(a) She opens the Airstar Bank Account for saving money;
D D
E (b) Her source of wealth is her wages; and E
F F
(c) She is residing at a public rental housing flat in Kwai
G Chung (“the Flat”). G
H H
13. On 25 February 2021, the Airstar Bank Account was opened.
I I
14. Between 25 February 2021 and 7 April 2021, both dates
J J
inclusive, there had been:
K K
(a) HK$16,439,050.59 credited into the Airstar Bank
L L
Account through 95 deposits; and
M M
(b) HK$16,438,107.64 debited from the Airstar Bank
N N
Account through 81 withdrawals.
O O
15. The aforesaid 95 deposits were originated from bank
P P
account(s) of 24 individuals. Among these 95 deposits, 25 were originated
Q from the Citibank and Welab Bank Accounts – involving HK$1,095,000 in Q
total. Having excluded such money involved, the Airstar Bank Account
R R
received HK$15,344,050.59, being the aggregate amount of property
S having been dealt with, particularized in Charge 1. S
T T
16. In general, during the period covered by the Charge 1, the
U U
V V
-5-
A A
B B
Airstar Bank Account had been operated as a repository of funds, to receive
C and dispose of money, in the following manners: C
D D
(a) The Airstar Bank Account received various deposits,
E and disposed of the funds accumulated at once. To E
illustrate, between 15 and 16 March 2021, the bank
F F
account received eight deposits from the Citibank
G Account (involving HK$578,000) and a deposit from G
Lai Sin Yi (involving HK$283,000) consecutively, after
H H
which transferred HK$860,000 to Tak Shing Import
I and Export Company. I
J J
(b) The Airstar Bank Account received a deposit, and
K disposed of the funds received in tranches. To illustrate, K
on 10 March 2021, the bank account received
L L
HK$354,000 from Sham Kit Yi, after which transferred
M HK$351,000 to four other persons. M
N N
17. Money credited into the Airstar Bank Account had been
O disposed of, on the day of receipt or on the next day. O
P P
18. On 7 April 2021, the Airstar Bank Account held HK$983.50
Q as closing balance. Q
R R
Charge 2: BOC Account
S S
19. On 12 November 2015, Ms Ko applied to set up a personal
T T
bank account with the Bank of China (Hong Kong) Limited (subsequently
U U
V V
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A A
B B
known as the BOC Account).
C C
20. Ms Ko presented her HKID card to officer of the bank, as
D D
proof of identity, in support of her application to set up the BOC Account.
E E
21. In the same application, Ms Ko claimed, inter alia:
F F
G (a) She opens the BOC Account for dealing with daily G
budget; and
H H
I (b) She resides at the Flat. I
J J
22. On the same day, the BOC Account was opened.
K K
23. On 4 May 2021, Ms Ko visited a branch of the Bank of China
L L
(Hong Kong) to amend her mobile phone number registered with the bank.
M M
24. Between 18 March 2019 and 3 May 2021, the BOC Account
N N
had received HK$197,162.45. It had not performed any activity, and had
O maintained a balance of HK$10.45, between 4 and 21 May 2021. O
P P
25. Between 22 May 2021 and 1 June 2021, both dates inclusive:
Q Q
(a) HK$2,413,769.00 had been credited into the BOC
R R
Account through 1,474 deposits; and
S S
(b) HK$2,385,917.00 had been debited from the BOC
T T
Account through 463 withdrawals.
U U
V V
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A A
B B
C 26. The aforesaid 1,474 deposits consisted of: C
D D
(a) 1,373 bank transfers came from bank account of 174
E individuals (involving HK$2,209,899); E
F F
(b) 91 deposits made through an ATM (involving
G HK$185,500); G
H H
(c) Nine payment reversals (involving HK$18,170); and
I I
(d) A HK$200 deposit made through bank counter.
J J
K 27. In general, during the period covered by Charge 2, as a K
repository of funds, the BOC Account had received various deposits
L L
consecutively, and disposed of the funds accumulated erratically.
M M
28. To illustrate, on 23 May 2021, the BOC Account received 16
N N
deposits consecutively (involving HK$12,906) between 12 pm and 2:05
O pm, after which transferred HK$1,000 to another person at 2:23 pm. O
P P
29. Money credited into the BOC Account had been disposed of,
Q on the day of receipt or in the next two days. Q
R R
30. On 1 June 2021, the BOC Account held HK$27,862.46 as
S closing balance. S
T T
U U
V V
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A A
B B
31. Having excluded the payment reversals, the BOC Account
C received HK$2,395,599.00, being the aggregate amount of property C
having been dealt with, particularized in Charge 2.
D D
E Charge 3: Citibank Account E
F F
32. On 4 March 2021, Ms Ko applied to set up a personal bank
G account with the Citibank (Hong Kong) Limited (subsequently known as G
the Citibank Account).
H H
I 33. In support of her application to set up the Citibank Account, I
to the officer of the bank, Ms Ko presented her HKID card (as identity
J J
proof) and an integrated monthly statement issued by the Bank of China
K (Hong Kong) (as address proof). K
L L
34. In the same application, Ms Ko claimed, inter alia:
M M
(a) She opens the Citibank Account for receiving salary
N N
payments, saving money and/or making investments;
O O
(b) The source of funds of the bank account is her wages;
P P
and
Q Q
(c) She resides at the Flat.
R R
S 35. On the same day, the Citibank Account was opened. S
T T
U U
V V
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A A
B B
36. Between 8 and 24 March 2021, both dates inclusive:
C C
(a) HK$2,196,064.50 had been credited into the Citibank
D D
Account through 67 deposits; and
E E
(b) HK$2,196,000.00 had been debited from the Citibank
F F
Account through 46 withdrawals.
G G
37. The aforesaid 67 deposits consisted of 63 bank transfers/ATM
H H
deposits made by 47 individuals (including the six citizens who fell prey
I to investment scam) and 4 deposits made by depositor(s) whose identity I
has not been revealed.
J J
K 38. In general, during the period covered by Charge 3, as a K
repository of funds, the Citibank Account had received various deposits
L L
consecutively, and disposed of the funds received through bank transfers
M to bank account of Ms Ko, a body corporate or two other persons. M
N N
39. To illustrate, on 16 March 2021, the Citibank Account
O received 10 deposits consecutively (involving HK$304,770, including O
money belonging to Chen Yiyun), after which transferred HK$305,000 to
P P
the Airstar Bank Account.
Q Q
40. Money credited into the Citibank Account had been disposed
R R
of, on the day of receipt or on the next day.
S S
T T
U U
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A A
B B
41. During the period covered by Charge 3, the Citibank Account
C had transferred a total of HK$1,736,000 to three bank accounts held by Ms C
Ko:
D D
E
Money transferred from the E
Bank Account / Bank
Citibank Account (HK$)
F Airstar Bank Account $1,045,000.00 F
Welab Bank Account $512,000.00
G G
PAO Bank Limited $179,000.00
H H
42. On 24 March 2021, the Citibank Account held HK$64.50 as
I I
closing balance.
J J
Charge 4: Welab Bank Account
K K
L 43. On 12 December 2020, Ms Ko applied to set up a personal L
bank account with the Welab Bank Limited (subsequently known as the
M M
Welab Bank Account).
N N
44. In her application to set up the Welab Bank Account, Ms Ko
O O
submitted two selfies, a photo of her HKID card, as proof of identity.
P P
45. In the same application, Ms Ko claimed, inter alia:
Q Q
R (a) She opens the Welab Bank Account for saving money; R
S S
(b) The source of funds of the bank account is her savings;
T and T
U U
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A A
B B
(c) She resides at the Flat.
C C
46. On the same day, the Welab Bank Account was opened.
D D
E 47. Between 13 December 2020 and 7 April 2021, both dates E
inclusive:
F F
G (a) HK$2,645,143.00 had been credited into the Welab G
Bank Account through 48 deposits; and
H H
I (b) HK$2,579,168.18 had been debited from the Welab I
Bank Account through 64 withdrawals.
J J
K 48. The aforesaid 48 deposits were originated from bank K
account(s) of 10 individuals. Among these 48 deposits, five were
L L
originated from the Citibank Account – involving HK$512,000 in total.
M Having excluded such money involved, the Welab Bank Account received M
HK$2,133,143, being the aggregate amount of property having been dealt
N N
with, particularized in Charge 4.
O O
49. In general, during the period covered by Charge 4, the Welab
P P
Bank Account had been operated as a repository of funds, to receive and
Q dispose of money, in the following manners: Q
R R
(a) The Welab Bank Account received various deposits,
S and disposed of the funds accumulated at once. To S
illustrate, on 22 March 2021, the bank account received
T T
two deposits from the Citibank Account (involving
U U
V V
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A A
B B
HK$382,000) consecutively, after which transferred
C HK$297,265 to He Shenxia. C
D D
(b) The Welab Bank Account received a deposit, and
E disposed of the funds received in tranches. To illustrate, E
between 31 March 2021 and 1 April 2021, the bank
F F
account received HK$424,000 from So Chi Man, after
G which transferred HK$486,535.75 to seven other bank G
accounts, including the Airstar Bank Account.
H H
I 50. Money credited into the Welab Bank Account had been I
disposed of, on the day of receipt or on the next day.
J J
K 51. On 7 April 2021, the Welab Bank Account held K
HK$66,176.15 as closing balance.
L L
M Arrest M
N N
52. On 22 November 2021, pursuant to a search warrant, and in
O the presence of Ms Ko’s elder brother, police officer searched the Flat, O
found a monthly statement of the Citibank Account covering the period
P P
between 8 July 2021 and 7 August 2021 in a drawer inside Ms Ko’s
Q bedroom, and seized it. Q
R R
53. On that day, Ms Ko was being arrested in the Sham Shui Po
S Police Station, who attended a video-recorded interview, and asserted, S
under caution, inter alia:
T T
U U
V V
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A A
B B
(a) She resides at the Flat;
C C
(b) She personally opened the BOC, Citibank and Welab
D D
Bank Accounts for saving money; and
E E
(c) She personally opened the Airstar Bank Account to
F F
acquire consumption voucher issued by the bank as
G reward for opening bank account. G
H H
Criminal record
I I
54. Ms Ko has 3 previous convictions two of which were for the
J J
offence of “Attempted fraud” committed prior to the present offences but
K for which she was sentenced after the commission of the present offences. K
The remaining one was a minor offence for which she was fined.
L L
M Antecedents M
N N
55. Ms Ko is aged 28 (24 at the time of the offences), educated to
O F4, was working as a cashier with salary of $6,000 at the time of arrest. O
P P
Mitigation
Q Q
56. Mr Kenny Lau of counsel assigned by the Director of Legal
R R
Aid mitigated on behalf of Ms Ko. The following is a summary of the
S mitigation submissions. S
T T
U U
V V
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A A
B B
57. The maximum penalty for the money laundering offence is 14
C years’ imprisonment. There are no sentencing guidelines for the offence. C
The amount of money laundered is the major consideration and should be
D D
reflected in sentencing: HKSAR v Lam Ka Sin [2021] 2 HKLRD 32, para
E 27. E
F F
58. In HKSAR v Boma [2012] 2 HKLRD 33, the Court of Appeal
G said a sentencing court should take into account the following non- G
exhaustive list of features when dealing with offences of money
H H
laundering:-
I I
(a) The nature of the predicate offence;
J J
K (b) The state of the offender’s knowledge; K
L L
(c) Where the operation involved an international
M dimension, this would be a significant aggravating M
feature;
N N
O (d) The sophistication of the offence, including the degree O
of planning;
P P
Q (e) Where the offence was committed by or on behalf of an Q
organized criminal syndicate would be an aggravating
R R
feature;
S S
(f) Whether there was one transaction or many and the
T T
length of time over which the offence was committed;
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A A
B B
C (g) Whether the offender continued to launder funds after C
he had discovered the nature of the funds were proceeds
D D
of an offence or a serious offence was involved;
E E
(h) The role of the offender and the acts performed by him.
F F
G 59. Whilst there are no sentencing guidelines for money G
laundering cases, the Court of Appeal in Secretary for Justice v Wan Kwok
H H
Keung [2012] 1 HKLRD 201, at para 15, stated that starting points for such
I cases could be as follows:- I
J J
(a) HK$1 million to HK$2 million – 3 years;
K K
(b) HK$3 million to HK$6 million – 4 years;
L L
M (c) Above HK$10 million – over 5 years. M
N N
60. Ms Ko’s instructions were that she opened the bank accounts
O upon the requests of her brother and close friend. She simply complied O
and passed the bank accounts over for their use. She had not taken part in
P P
the actual handling or dealing of the monies.
Q Q
61. Ms Ko pleaded guilty in good time, showing her remorse. She
R R
has underestimated the consequences of lending her bank accounts.
S S
62. Ms Ko is living with her mother (71) who is in court to give
T T
her support. Ms Ko became a beauty parlour receptionist after release for
U U
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A A
B B
the Attempted Fraud convictions. Recently, she started her apprenticeship
C with a friend as a beauty specialist. Hopefully, she could start her career C
in this area after release.
D D
E 63. Ms Ko does not have any similar conviction record. E
F F
64. In the present case, there is no evidence that Ms Ko had
G participated in, or had knowledge of, any predicate offence. Nor was there G
evidence of any international dimension.
H H
I 65. The total amount laundered is HK$22,068,857.09. The I
duration of the offences were about 6 months. According to Wan Kwok
J J
Keung, a starting point of over 5 years can be adopted.
K K
66. Mr Lau raised no dispute to the prosecution’s request for
L L
enhanced sentencing based on the witness statement of CIP Li Yiu Nam.
M M
67. Mr Lau reminded the court of the totality principle.
N N
O 68. Mr Lau submitted on behalf of Ms Ko three mitigation letters O
written in Chinese respectively by Ms Ko herself, her mother, and a friend.
P P
The contents generally are that Ms Ko is regretful for her stupid mistake;
Q that she committed the offences for economic reasons; that since her arrest, Q
although she was under enormous stress awaiting the proceedings, she did
R R
not give herself up and went to learn about the beautician industry from a
S friend; that Ms Ko is a kind, responsible and serious person who is willing S
to help her friends. The letter writers asked for a chance be given to Ms
T T
Ko to reform herself.
U U
V V
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A A
B B
C 69. Upon enquiry by the court, Mr Lau submitted that Ms Ko C
simply passed over control of her BOC Account to her brother upon request.
D D
For the other 3 subject bank accounts, Ms Ko opened them and passed over
E control of them to her close friend for a promised reward of HK$4,000 E
which she never received.
F F
G 70. Again upon enquiry by the court, Mr Lau submitted that the G
PAO Bank Limited account held in Ms Ko’s name (mentioned in para 35
H H
of the Amended Summary of Facts) was a similar account the control of
I which she had passed to others and therefore the amount of HK$179,000 I
transferred into it was not remuneration for her money laundering activities.
J J
K Sentence K
L L
71. The maximum penalty for a money laundering offence is 14
M years’ imprisonment and a HK$5 million fine. There are no sentencing M
guidelines though a deterrent sentence is invariably called for. Needless to
N N
say, it is a serious offence.
O O
72. The total amount laundered came to about HK$22 million;
P P
this is a huge sum for this type of offence. The predicate offence appears
Q to be fraud but there is no evidence that Ms Ko knew about this. Ms Ko’s Q
role was clearly to lend an existing (BOC) bank account and to open and
R R
pass over control of new accounts for the purpose of money laundering.
S There were numerous transactions on the four bank accounts over a total S
period of about 6 months. The promised reward was HK$4,000 but there
T T
is no evidence she ever received it.
U U
V V
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A A
B B
C 73. I intend to adopt a global starting point to cover all 4 charges. C
Bearing the principles enunciated in Lam Ka Sin, Boma and Wan Kwok
D D
Keung, and the above factual considerations in mind, I will begin with a
E starting point of 5 ½ years’ imprisonment. E
F F
74. Ms Ko pleaded guilty in good time earning for herself the full
G 1/3 sentencing discount. There are no other mitigating factors of weight to G
justify another sentence reduction. The sentence before any enhancement
H H
would be 44 months’ imprisonment.
I I
75. Prosecution has furnished information in the form of a witness
J J
statement of CIP Li Yiu Nam dated 11 July 2025 tending to show the
K prevalence of money laundering offence and the extent of harm caused to K
the community by recent occurrences of this offence.
L L
M 76. Mr Lau offered no objection to the reception of this M
information by the court nor did he object to the prosecution’s request for
N N
enhanced sentencing based on the information.
O O
77. I have therefore received the information.
P P
Q 78. As shown in Table A on page 5 of the statement, the total Q
number of money laundering stooges arrested had been rising consistently
R R
from the year 2020 (760) to the year 2024 (7,883). The figure for the first
S 5 months of the year 2025 was 2,146. By using the mathematical method S
of extrapolation, the forecast for the whole of the year 2025 would be 5,150.
T T
This represents a drop. However, the number is still substantial as
U U
V V
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A A
B B
compared with the previous figures. The proportion of stooges arrested to
C the total number of arrested persons in detected Deception (with money C
laundering element) and Money Laundering cases in the first 5 months of
D D
the year 2025 (as well as the projected proportion for the whole year) still
E stands at 70.87%. E
F F
79. I am satisfied that money laundering offence is still prevalent.
G G
80. As shown in Table B on pp 6-7 of the statement, for (local)
H H
Deception cases (with money laundering element) detected with arrest, the
I amount of losses reported by victims for the first 5 months of the year 2025 I
came to HK$219.11M. The projected losses for the whole of the year 2025
J J
(by extrapolation) would be HK$525.86M. Although this represents a drop
K from the corresponding (actual) figure of HK$2,143.41M for the year 2024, K
it is still substantial.
L L
M 81. Also from Table B, the number of detected with arrest cases M
with use of (local) stooge accounts stands at 329 for the first 5 months of
N N
the year 2025. The projected figure for the whole of the year 2025 (by
O extrapolation) would be 789. This represents a substantial drop from the O
figure of 3,675 cases for the year 2024. However, the amount of reported
P P
losses (including losses by overseas victims) and proceeds laundered in
Q this type of cases still stands at HK$428.53M for the first 5 months alone Q
of the year 2025 which is already substantial even without regard to the
R R
projected figure for the whole year.
S S
82. I am satisfied that the extent of the harm (including harm to
T T
the reputation of Hong Kong as a well-known international financial hub)
U U
V V
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A A
B B
caused to the community by recent occurrences of the money laundering
C offence is still substantial. C
D D
83. Accordingly, I will exercise the power under section 27(11)
E of OSCO, Cap 455, to enhance the sentence of Ms Ko. Having regard to E
the circumstances of the case, I adjudge 21% enhancement to be
F F
appropriate. I will round down where there are decimal places in the
G calculation result. G
H H
84. I am of the view that the resulting sentence thus arrived at is
I not too excessive in the circumstances of the offences and the offender. I
J J
85. I will impose notional sentences (after enhancement) for the
K individual charges and make an appropriate order to arrive at the final K
sentence for Ms Ko.
L L
M (Ms Ko, please stand) M
N N
86. For Charge 1, the sentence is 48 months’ imprisonment.
O O
87. For Charge 2, the sentence is 33 months’ imprisonment.
P P
Q 88. For Charge 3, the sentence is 29 months’ imprisonment. Q
R R
89. For Charge 4, the sentence is 33 months’ imprisonment.
S S
T T
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A A
B B
90. I order that 2 months of the sentence on Charge 2, 1 month of
C the sentence on Charge 3, and 2 months of the sentence on Charge 4, are C
each to run consecutively to the sentence on Charge 1, making a final
D D
sentence for Ms Ko of 53 months’ imprisonment.
E E
F F
G ( Isaac Tam ) G
District Judge
H H
I I
J J
K K
L L
M M
N N
O O
P P
Q Q
R R
S S
T T
U U
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A A
B B
DCCC 276/2024
C [2025] HKDC 1346 C
D D
IN THE DISTRICT COURT OF THE
E HONG KONG SPECIAL ADMINISTRATIVE REGION E
CRIMINAL CASE NO 276 OF 2024
F F
G ---------------------------- G
HKSAR
H H
v
I KO LOK YAN MANDY I
----------------------------
J J
K Before: His Honour Judge Tam in Court K
Date: 6 August 2025
L L
Present: Mr Lee Chuk Kwan Derrick, Public Prosecutor, for HKSAR
M Mr Lau Hon Wang Kenny, instructed by M C A Lai Solicitors M
LLP, assigned by the Director of Legal Aid, for the defendant
N N
Offences: [1] – [4] Dealing with property known or believed to represent
O proceeds of an indictable offence (處理已知道或相信為代 O
P
表從可公訴罪行的得益的財產) P
Q Q
---------------------------------------
R REASONS FOR SENTENCE R
---------------------------------------
S S
T T
U U
V V
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A A
B B
1. Ms Ko pleaded guilty before me to 4 charges of Dealing with
C proceeds known or believed to represent proceeds of an indictable offence, C
contrary to section 25(1) and (3) of the Organized and Serious Crimes
D D
Ordinance, Cap 455.
E E
2. Particulars of the charges are that she, between A(1) and A(2),
F F
in Hong Kong, knowing or having reasonable grounds to believe that
G property, namely a chose in action in a total sum of B Hong Kong currency G
in the account numbered C held under the name of herself with D, in whole
H H
or in part, directly or indirectly represented the proceeds of an indictable
I offence, dealt with the said property. I
J J
3. For Charge 1, A(1) is 25 February 2021; A(2) is 7 April 2021;
K B is $15,344,050.59; C is 880000032989; D is Airstar Bank Limited. K
L L
4. For Charge 2, A(1) is 22 May 2021; A(2) is 1 June 2021; B is
M $2,395,599.00; C is 012-358-2-005466-1; D is Bank of China (Hong Kong) M
Limited.
N N
O 5. For Charge 3, A(1) is 8 March 2021; A(2) is 24 March 2021; O
B is $2,196,064.50; C is 50903446; D is Citibank (Hong Kong) Limited.
P P
Q 6. For Charge 4, A(1) is 13 December 2020; A(2) is 7 April 2021; Q
B is $2,133,143.00; C is 1000783820; D is Welab Bank Limited.
R R
S S
T T
U U
V V
-3-
A A
B B
Facts admitted by Ms Ko
C C
7. At all material times, Ms Ko was the sole holder and sole
D D
authorized signatory of the four bank accounts under the 4 charges.
E E
8. Six citizens fell prey to investment scam. Scammer whom
F F
they met through mobile app or unsolicited text message deceived them
G into making investment through an untrusted website or mobile app. To G
make investments (which never existed), each of them followed the
H H
scammer’s instructions to pay money into designated bank accounts,
I including the Citibank Account subject of Charge 3, as investment capital, I
between 15 and 21 March 2021. The total funds paid into the Citibank
J J
Account by the six citizens amounted to HK$539,300, although the losses
K suffered by them were much more. K
L L
9. After they realized they had been deceived, they reported the
M matters to the Hong Kong Police. M
N N
Charge 1: Airstar Bank Account
O O
10. On 24 February 2021, Ms Ko applied to set up a personal bank
P P
account with the Airstar Bank Limited (subsequently known as the Airstar
Q Bank Account). Q
R R
11. In her application to set up the Airstar Bank Account, Ms Ko
S submitted three selfies, a photo of her HKID card, and a video of herself S
showing the HKID card, as proof of identity.
T T
U U
V V
-4-
A A
B B
12. In the same application, Ms Ko claimed, inter alia:
C C
(a) She opens the Airstar Bank Account for saving money;
D D
E (b) Her source of wealth is her wages; and E
F F
(c) She is residing at a public rental housing flat in Kwai
G Chung (“the Flat”). G
H H
13. On 25 February 2021, the Airstar Bank Account was opened.
I I
14. Between 25 February 2021 and 7 April 2021, both dates
J J
inclusive, there had been:
K K
(a) HK$16,439,050.59 credited into the Airstar Bank
L L
Account through 95 deposits; and
M M
(b) HK$16,438,107.64 debited from the Airstar Bank
N N
Account through 81 withdrawals.
O O
15. The aforesaid 95 deposits were originated from bank
P P
account(s) of 24 individuals. Among these 95 deposits, 25 were originated
Q from the Citibank and Welab Bank Accounts – involving HK$1,095,000 in Q
total. Having excluded such money involved, the Airstar Bank Account
R R
received HK$15,344,050.59, being the aggregate amount of property
S having been dealt with, particularized in Charge 1. S
T T
16. In general, during the period covered by the Charge 1, the
U U
V V
-5-
A A
B B
Airstar Bank Account had been operated as a repository of funds, to receive
C and dispose of money, in the following manners: C
D D
(a) The Airstar Bank Account received various deposits,
E and disposed of the funds accumulated at once. To E
illustrate, between 15 and 16 March 2021, the bank
F F
account received eight deposits from the Citibank
G Account (involving HK$578,000) and a deposit from G
Lai Sin Yi (involving HK$283,000) consecutively, after
H H
which transferred HK$860,000 to Tak Shing Import
I and Export Company. I
J J
(b) The Airstar Bank Account received a deposit, and
K disposed of the funds received in tranches. To illustrate, K
on 10 March 2021, the bank account received
L L
HK$354,000 from Sham Kit Yi, after which transferred
M HK$351,000 to four other persons. M
N N
17. Money credited into the Airstar Bank Account had been
O disposed of, on the day of receipt or on the next day. O
P P
18. On 7 April 2021, the Airstar Bank Account held HK$983.50
Q as closing balance. Q
R R
Charge 2: BOC Account
S S
19. On 12 November 2015, Ms Ko applied to set up a personal
T T
bank account with the Bank of China (Hong Kong) Limited (subsequently
U U
V V
-6-
A A
B B
known as the BOC Account).
C C
20. Ms Ko presented her HKID card to officer of the bank, as
D D
proof of identity, in support of her application to set up the BOC Account.
E E
21. In the same application, Ms Ko claimed, inter alia:
F F
G (a) She opens the BOC Account for dealing with daily G
budget; and
H H
I (b) She resides at the Flat. I
J J
22. On the same day, the BOC Account was opened.
K K
23. On 4 May 2021, Ms Ko visited a branch of the Bank of China
L L
(Hong Kong) to amend her mobile phone number registered with the bank.
M M
24. Between 18 March 2019 and 3 May 2021, the BOC Account
N N
had received HK$197,162.45. It had not performed any activity, and had
O maintained a balance of HK$10.45, between 4 and 21 May 2021. O
P P
25. Between 22 May 2021 and 1 June 2021, both dates inclusive:
Q Q
(a) HK$2,413,769.00 had been credited into the BOC
R R
Account through 1,474 deposits; and
S S
(b) HK$2,385,917.00 had been debited from the BOC
T T
Account through 463 withdrawals.
U U
V V
-7-
A A
B B
C 26. The aforesaid 1,474 deposits consisted of: C
D D
(a) 1,373 bank transfers came from bank account of 174
E individuals (involving HK$2,209,899); E
F F
(b) 91 deposits made through an ATM (involving
G HK$185,500); G
H H
(c) Nine payment reversals (involving HK$18,170); and
I I
(d) A HK$200 deposit made through bank counter.
J J
K 27. In general, during the period covered by Charge 2, as a K
repository of funds, the BOC Account had received various deposits
L L
consecutively, and disposed of the funds accumulated erratically.
M M
28. To illustrate, on 23 May 2021, the BOC Account received 16
N N
deposits consecutively (involving HK$12,906) between 12 pm and 2:05
O pm, after which transferred HK$1,000 to another person at 2:23 pm. O
P P
29. Money credited into the BOC Account had been disposed of,
Q on the day of receipt or in the next two days. Q
R R
30. On 1 June 2021, the BOC Account held HK$27,862.46 as
S closing balance. S
T T
U U
V V
-8-
A A
B B
31. Having excluded the payment reversals, the BOC Account
C received HK$2,395,599.00, being the aggregate amount of property C
having been dealt with, particularized in Charge 2.
D D
E Charge 3: Citibank Account E
F F
32. On 4 March 2021, Ms Ko applied to set up a personal bank
G account with the Citibank (Hong Kong) Limited (subsequently known as G
the Citibank Account).
H H
I 33. In support of her application to set up the Citibank Account, I
to the officer of the bank, Ms Ko presented her HKID card (as identity
J J
proof) and an integrated monthly statement issued by the Bank of China
K (Hong Kong) (as address proof). K
L L
34. In the same application, Ms Ko claimed, inter alia:
M M
(a) She opens the Citibank Account for receiving salary
N N
payments, saving money and/or making investments;
O O
(b) The source of funds of the bank account is her wages;
P P
and
Q Q
(c) She resides at the Flat.
R R
S 35. On the same day, the Citibank Account was opened. S
T T
U U
V V
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A A
B B
36. Between 8 and 24 March 2021, both dates inclusive:
C C
(a) HK$2,196,064.50 had been credited into the Citibank
D D
Account through 67 deposits; and
E E
(b) HK$2,196,000.00 had been debited from the Citibank
F F
Account through 46 withdrawals.
G G
37. The aforesaid 67 deposits consisted of 63 bank transfers/ATM
H H
deposits made by 47 individuals (including the six citizens who fell prey
I to investment scam) and 4 deposits made by depositor(s) whose identity I
has not been revealed.
J J
K 38. In general, during the period covered by Charge 3, as a K
repository of funds, the Citibank Account had received various deposits
L L
consecutively, and disposed of the funds received through bank transfers
M to bank account of Ms Ko, a body corporate or two other persons. M
N N
39. To illustrate, on 16 March 2021, the Citibank Account
O received 10 deposits consecutively (involving HK$304,770, including O
money belonging to Chen Yiyun), after which transferred HK$305,000 to
P P
the Airstar Bank Account.
Q Q
40. Money credited into the Citibank Account had been disposed
R R
of, on the day of receipt or on the next day.
S S
T T
U U
V V
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A A
B B
41. During the period covered by Charge 3, the Citibank Account
C had transferred a total of HK$1,736,000 to three bank accounts held by Ms C
Ko:
D D
E
Money transferred from the E
Bank Account / Bank
Citibank Account (HK$)
F Airstar Bank Account $1,045,000.00 F
Welab Bank Account $512,000.00
G G
PAO Bank Limited $179,000.00
H H
42. On 24 March 2021, the Citibank Account held HK$64.50 as
I I
closing balance.
J J
Charge 4: Welab Bank Account
K K
L 43. On 12 December 2020, Ms Ko applied to set up a personal L
bank account with the Welab Bank Limited (subsequently known as the
M M
Welab Bank Account).
N N
44. In her application to set up the Welab Bank Account, Ms Ko
O O
submitted two selfies, a photo of her HKID card, as proof of identity.
P P
45. In the same application, Ms Ko claimed, inter alia:
Q Q
R (a) She opens the Welab Bank Account for saving money; R
S S
(b) The source of funds of the bank account is her savings;
T and T
U U
V V
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A A
B B
(c) She resides at the Flat.
C C
46. On the same day, the Welab Bank Account was opened.
D D
E 47. Between 13 December 2020 and 7 April 2021, both dates E
inclusive:
F F
G (a) HK$2,645,143.00 had been credited into the Welab G
Bank Account through 48 deposits; and
H H
I (b) HK$2,579,168.18 had been debited from the Welab I
Bank Account through 64 withdrawals.
J J
K 48. The aforesaid 48 deposits were originated from bank K
account(s) of 10 individuals. Among these 48 deposits, five were
L L
originated from the Citibank Account – involving HK$512,000 in total.
M Having excluded such money involved, the Welab Bank Account received M
HK$2,133,143, being the aggregate amount of property having been dealt
N N
with, particularized in Charge 4.
O O
49. In general, during the period covered by Charge 4, the Welab
P P
Bank Account had been operated as a repository of funds, to receive and
Q dispose of money, in the following manners: Q
R R
(a) The Welab Bank Account received various deposits,
S and disposed of the funds accumulated at once. To S
illustrate, on 22 March 2021, the bank account received
T T
two deposits from the Citibank Account (involving
U U
V V
- 12 -
A A
B B
HK$382,000) consecutively, after which transferred
C HK$297,265 to He Shenxia. C
D D
(b) The Welab Bank Account received a deposit, and
E disposed of the funds received in tranches. To illustrate, E
between 31 March 2021 and 1 April 2021, the bank
F F
account received HK$424,000 from So Chi Man, after
G which transferred HK$486,535.75 to seven other bank G
accounts, including the Airstar Bank Account.
H H
I 50. Money credited into the Welab Bank Account had been I
disposed of, on the day of receipt or on the next day.
J J
K 51. On 7 April 2021, the Welab Bank Account held K
HK$66,176.15 as closing balance.
L L
M Arrest M
N N
52. On 22 November 2021, pursuant to a search warrant, and in
O the presence of Ms Ko’s elder brother, police officer searched the Flat, O
found a monthly statement of the Citibank Account covering the period
P P
between 8 July 2021 and 7 August 2021 in a drawer inside Ms Ko’s
Q bedroom, and seized it. Q
R R
53. On that day, Ms Ko was being arrested in the Sham Shui Po
S Police Station, who attended a video-recorded interview, and asserted, S
under caution, inter alia:
T T
U U
V V
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A A
B B
(a) She resides at the Flat;
C C
(b) She personally opened the BOC, Citibank and Welab
D D
Bank Accounts for saving money; and
E E
(c) She personally opened the Airstar Bank Account to
F F
acquire consumption voucher issued by the bank as
G reward for opening bank account. G
H H
Criminal record
I I
54. Ms Ko has 3 previous convictions two of which were for the
J J
offence of “Attempted fraud” committed prior to the present offences but
K for which she was sentenced after the commission of the present offences. K
The remaining one was a minor offence for which she was fined.
L L
M Antecedents M
N N
55. Ms Ko is aged 28 (24 at the time of the offences), educated to
O F4, was working as a cashier with salary of $6,000 at the time of arrest. O
P P
Mitigation
Q Q
56. Mr Kenny Lau of counsel assigned by the Director of Legal
R R
Aid mitigated on behalf of Ms Ko. The following is a summary of the
S mitigation submissions. S
T T
U U
V V
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A A
B B
57. The maximum penalty for the money laundering offence is 14
C years’ imprisonment. There are no sentencing guidelines for the offence. C
The amount of money laundered is the major consideration and should be
D D
reflected in sentencing: HKSAR v Lam Ka Sin [2021] 2 HKLRD 32, para
E 27. E
F F
58. In HKSAR v Boma [2012] 2 HKLRD 33, the Court of Appeal
G said a sentencing court should take into account the following non- G
exhaustive list of features when dealing with offences of money
H H
laundering:-
I I
(a) The nature of the predicate offence;
J J
K (b) The state of the offender’s knowledge; K
L L
(c) Where the operation involved an international
M dimension, this would be a significant aggravating M
feature;
N N
O (d) The sophistication of the offence, including the degree O
of planning;
P P
Q (e) Where the offence was committed by or on behalf of an Q
organized criminal syndicate would be an aggravating
R R
feature;
S S
(f) Whether there was one transaction or many and the
T T
length of time over which the offence was committed;
U U
V V
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A A
B B
C (g) Whether the offender continued to launder funds after C
he had discovered the nature of the funds were proceeds
D D
of an offence or a serious offence was involved;
E E
(h) The role of the offender and the acts performed by him.
F F
G 59. Whilst there are no sentencing guidelines for money G
laundering cases, the Court of Appeal in Secretary for Justice v Wan Kwok
H H
Keung [2012] 1 HKLRD 201, at para 15, stated that starting points for such
I cases could be as follows:- I
J J
(a) HK$1 million to HK$2 million – 3 years;
K K
(b) HK$3 million to HK$6 million – 4 years;
L L
M (c) Above HK$10 million – over 5 years. M
N N
60. Ms Ko’s instructions were that she opened the bank accounts
O upon the requests of her brother and close friend. She simply complied O
and passed the bank accounts over for their use. She had not taken part in
P P
the actual handling or dealing of the monies.
Q Q
61. Ms Ko pleaded guilty in good time, showing her remorse. She
R R
has underestimated the consequences of lending her bank accounts.
S S
62. Ms Ko is living with her mother (71) who is in court to give
T T
her support. Ms Ko became a beauty parlour receptionist after release for
U U
V V
- 16 -
A A
B B
the Attempted Fraud convictions. Recently, she started her apprenticeship
C with a friend as a beauty specialist. Hopefully, she could start her career C
in this area after release.
D D
E 63. Ms Ko does not have any similar conviction record. E
F F
64. In the present case, there is no evidence that Ms Ko had
G participated in, or had knowledge of, any predicate offence. Nor was there G
evidence of any international dimension.
H H
I 65. The total amount laundered is HK$22,068,857.09. The I
duration of the offences were about 6 months. According to Wan Kwok
J J
Keung, a starting point of over 5 years can be adopted.
K K
66. Mr Lau raised no dispute to the prosecution’s request for
L L
enhanced sentencing based on the witness statement of CIP Li Yiu Nam.
M M
67. Mr Lau reminded the court of the totality principle.
N N
O 68. Mr Lau submitted on behalf of Ms Ko three mitigation letters O
written in Chinese respectively by Ms Ko herself, her mother, and a friend.
P P
The contents generally are that Ms Ko is regretful for her stupid mistake;
Q that she committed the offences for economic reasons; that since her arrest, Q
although she was under enormous stress awaiting the proceedings, she did
R R
not give herself up and went to learn about the beautician industry from a
S friend; that Ms Ko is a kind, responsible and serious person who is willing S
to help her friends. The letter writers asked for a chance be given to Ms
T T
Ko to reform herself.
U U
V V
- 17 -
A A
B B
C 69. Upon enquiry by the court, Mr Lau submitted that Ms Ko C
simply passed over control of her BOC Account to her brother upon request.
D D
For the other 3 subject bank accounts, Ms Ko opened them and passed over
E control of them to her close friend for a promised reward of HK$4,000 E
which she never received.
F F
G 70. Again upon enquiry by the court, Mr Lau submitted that the G
PAO Bank Limited account held in Ms Ko’s name (mentioned in para 35
H H
of the Amended Summary of Facts) was a similar account the control of
I which she had passed to others and therefore the amount of HK$179,000 I
transferred into it was not remuneration for her money laundering activities.
J J
K Sentence K
L L
71. The maximum penalty for a money laundering offence is 14
M years’ imprisonment and a HK$5 million fine. There are no sentencing M
guidelines though a deterrent sentence is invariably called for. Needless to
N N
say, it is a serious offence.
O O
72. The total amount laundered came to about HK$22 million;
P P
this is a huge sum for this type of offence. The predicate offence appears
Q to be fraud but there is no evidence that Ms Ko knew about this. Ms Ko’s Q
role was clearly to lend an existing (BOC) bank account and to open and
R R
pass over control of new accounts for the purpose of money laundering.
S There were numerous transactions on the four bank accounts over a total S
period of about 6 months. The promised reward was HK$4,000 but there
T T
is no evidence she ever received it.
U U
V V
- 18 -
A A
B B
C 73. I intend to adopt a global starting point to cover all 4 charges. C
Bearing the principles enunciated in Lam Ka Sin, Boma and Wan Kwok
D D
Keung, and the above factual considerations in mind, I will begin with a
E starting point of 5 ½ years’ imprisonment. E
F F
74. Ms Ko pleaded guilty in good time earning for herself the full
G 1/3 sentencing discount. There are no other mitigating factors of weight to G
justify another sentence reduction. The sentence before any enhancement
H H
would be 44 months’ imprisonment.
I I
75. Prosecution has furnished information in the form of a witness
J J
statement of CIP Li Yiu Nam dated 11 July 2025 tending to show the
K prevalence of money laundering offence and the extent of harm caused to K
the community by recent occurrences of this offence.
L L
M 76. Mr Lau offered no objection to the reception of this M
information by the court nor did he object to the prosecution’s request for
N N
enhanced sentencing based on the information.
O O
77. I have therefore received the information.
P P
Q 78. As shown in Table A on page 5 of the statement, the total Q
number of money laundering stooges arrested had been rising consistently
R R
from the year 2020 (760) to the year 2024 (7,883). The figure for the first
S 5 months of the year 2025 was 2,146. By using the mathematical method S
of extrapolation, the forecast for the whole of the year 2025 would be 5,150.
T T
This represents a drop. However, the number is still substantial as
U U
V V
- 19 -
A A
B B
compared with the previous figures. The proportion of stooges arrested to
C the total number of arrested persons in detected Deception (with money C
laundering element) and Money Laundering cases in the first 5 months of
D D
the year 2025 (as well as the projected proportion for the whole year) still
E stands at 70.87%. E
F F
79. I am satisfied that money laundering offence is still prevalent.
G G
80. As shown in Table B on pp 6-7 of the statement, for (local)
H H
Deception cases (with money laundering element) detected with arrest, the
I amount of losses reported by victims for the first 5 months of the year 2025 I
came to HK$219.11M. The projected losses for the whole of the year 2025
J J
(by extrapolation) would be HK$525.86M. Although this represents a drop
K from the corresponding (actual) figure of HK$2,143.41M for the year 2024, K
it is still substantial.
L L
M 81. Also from Table B, the number of detected with arrest cases M
with use of (local) stooge accounts stands at 329 for the first 5 months of
N N
the year 2025. The projected figure for the whole of the year 2025 (by
O extrapolation) would be 789. This represents a substantial drop from the O
figure of 3,675 cases for the year 2024. However, the amount of reported
P P
losses (including losses by overseas victims) and proceeds laundered in
Q this type of cases still stands at HK$428.53M for the first 5 months alone Q
of the year 2025 which is already substantial even without regard to the
R R
projected figure for the whole year.
S S
82. I am satisfied that the extent of the harm (including harm to
T T
the reputation of Hong Kong as a well-known international financial hub)
U U
V V
- 20 -
A A
B B
caused to the community by recent occurrences of the money laundering
C offence is still substantial. C
D D
83. Accordingly, I will exercise the power under section 27(11)
E of OSCO, Cap 455, to enhance the sentence of Ms Ko. Having regard to E
the circumstances of the case, I adjudge 21% enhancement to be
F F
appropriate. I will round down where there are decimal places in the
G calculation result. G
H H
84. I am of the view that the resulting sentence thus arrived at is
I not too excessive in the circumstances of the offences and the offender. I
J J
85. I will impose notional sentences (after enhancement) for the
K individual charges and make an appropriate order to arrive at the final K
sentence for Ms Ko.
L L
M (Ms Ko, please stand) M
N N
86. For Charge 1, the sentence is 48 months’ imprisonment.
O O
87. For Charge 2, the sentence is 33 months’ imprisonment.
P P
Q 88. For Charge 3, the sentence is 29 months’ imprisonment. Q
R R
89. For Charge 4, the sentence is 33 months’ imprisonment.
S S
T T
U U
V V
- 21 -
A A
B B
90. I order that 2 months of the sentence on Charge 2, 1 month of
C the sentence on Charge 3, and 2 months of the sentence on Charge 4, are C
each to run consecutively to the sentence on Charge 1, making a final
D D
sentence for Ms Ko of 53 months’ imprisonment.
E E
F F
G ( Isaac Tam ) G
District Judge
H H
I I
J J
K K
L L
M M
N N
O O
P P
Q Q
R R
S S
T T
U U
V V