Changchun police have cracked a series of underground banking cases, with four gangs involved in transactions exceeding 15 billion yuan, including over 1.2 billion yuan in identified illicit capital outflows.
Procuratorates in Dongguan, Guangdong issued a Red Notice for Huang Youlong through Interpol. Huang Youlong was arrested immediately upon landing in Bordeaux, France, after arriving on a private jet from Iceland.
The High Court of Hong Kong delivered its verdict in the case where Choi Yat-fung sued Huang Youlong to recover over 100 million Hong Kong dollars in agency fees and interest. Choi Yat-fung lost the lawsuit, which inadvertently exposed a capital flight network of the elite.
Tomorrow Holding boss Xiao Jianhua was cross-border taken back to the mainland from the Four Seasons Hotel in Hong Kong by state security (MSS) personnel, and his massive network of proxy-held and money-laundering assets began to be investigated.
Zhao Wei and Huang Youlong invested HK$3.1 billion to acquire a 9.18% stake in Alibaba Pictures. Confidential documents show that the funds were provided by Xiao Jianhua's Tomorrow Holding, with the couple acting as proxy holders.