Ex-Hong Kong hospital chairman acquitted of money laundering

A Hong Kong court has found Sidney Siu Yim-kwan, the former chairman of Pok Oi Hospital, not guilty of money laundering related to a gold trading scam. The court stated that Siu, 78, was deceived by an investor and did not know his bank account was used for illegal activities. Deputy District Judge Jason Wan Siu-ming acknowledged that Siu was misled by his business partner. However, the judge criticized Siu for not being careful and aware of the financial risks involved in the venture. In 2017, Siu was approached by Lam Man-cheung, who wanted to invest in gold trading. Siu agreed to become the director of a new company, G Gold Group, and opened a bank account for it. Lam invested over HK$3 million into the account. From March to December 2018, the account received several transfers from unknown sources and saw significant withdrawals.