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The Taipei District Court yesterday acquitted China Innovation Investment Ltd (中國創新投資) executive director Xiang Xin (向心) and his wife, acting director Kung Ching (龔青), of money laundering charges.
Xiang and Kung were accused of laundering money from the now-defunct Guotai Investment Holding Group (國太投資), a Shanghai-based firm, to an account under the couple’s name in Hong Kong before transferring the funds, about NT$300 million (US$10.71 million) to China Innovation Investment to purchase real estate in Taipei’s Xinyi District (信義).
LACK OF PROOF
The couple were unaware that the money from Guotai Group was sourced by criminal means, nor could it be proved that
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