Hong Kong police investigating fugitive Chinese tycoon Guo Wengui over alleged HK$32 billion money laundering conspiracy, court papers reveal

Details of inquiry contained in judicial challenge by company owned by tycoon’s daughter, which is seeking to unfreeze bank accounts under investigation in city

Reading Time:3 minutes

Guo Wengui fled to the United States in 2015. Photo: Reuters

Published: 11:36pm, 14 Aug 2018Updated: 3:30am, 15 Aug 2018

Hong Kong police are investigating the exiled Chinese fugitive tycoon Guo Wengui for an alleged conspiracy in which he and his accomplices, including his son and daughter, laundered more than HK$32 billion (US$4.1 billion) through various companies set up in the city, a court document has revealed.

Details of the investigation were made known in a judicial challenge by a company owned by Guo Mei, the property tycoon’s daughter, filed at the High Court on Tuesday, seeking to unfreeze bank accounts under investigation in the city.

Guo, who fled to the United States in 2015, was hit with an Interpol red notice last year that accused him of paying a 60 million yuan (US$8.7 million) bribe to China’s former state security vice-minister, Ma Jian.

Also known as Miles Kwok, Guo has since turned into a critic of some senior Chinese officials and faces defamation lawsuits as well as rape allegations in the US, where he is seeking political asylum.

This is the first time Guo has been revealed to be under investigation in Hong Kong, where his family members hold interests in various locally registered companies.