Record-Breaking Money Laundering Case Study
Record-Breaking Money Laundering Case Study Lan’s Enterprise Limited Training Program Case Analysis & Compliance Lessons Case Overview Largest money laundering prosecution in New Zealand history Currency exchange business used to launder drug cartel proceeds At least $18 million laundered over multiple years Record prison sentence of 7.5 years imposed Multiple AML red flags ignored Business Background Lidong Foreign Exchange in Newmarket, Auckland Operated by Ye “Cathay” Hua, 58 Appeared as legitimate money exchange business Funded purchase of St Heliers mansion Connected to Xavier Valent drug cartel Red Flags & Warning Signs Cash Characteristics: ...