Associated Press have just reported that police in south China announced today that they had broken up a money laundering ring that sent $1.46 billion abroad in illegal transfers, mainly to Vietnam.
One of the ring's main suspects, a Chinese national named Ruan Zhizhong, allegedly opened 77 accounts and illegally transferred 7.2 billion yuan ($1.05 billion) through more than 10,000 transactions over a four-year period that ended in March of last year, Xinhua said.
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