Bill Liu is in the news again, for all the wrong reasons

Bill Liu is in the news again after getting raided by the cops.

Jared Savage has the details:

Police have raided the luxury penthouse of a multimillionaire businessman granted citizenship in controversial circumstances and seized his assets because of alleged involvement in money laundering.

William Yan – also previously known as Bill Liu, Yang Liu and Yong Ming Yan – lives on the 35th floor of Auckland’s Metropolis tower. Residents saw detectives removing items from his home on Thursday.

Millions of dollars worth of assets the police allege belong to Mr Yan – although officially registered in other people’s names – have been seized, including the apartment, worth more than $2 million, a Mercedes-Benz, and shares and bank accounts.

Mr Yan has spent millions of dollars as a high roller in the SkyCity Casino VIP lounge.   

Following the raid, Mr Yan, dressed casually in a black tracksuit, met defence lawyer Simon Lance in the Metropolis lobby.

No criminal charges have been laid. Mr Lance would not comment on what the police had taken. “However, Mr Yan does deny any alleged money laundering or other illegal activity. He has not been arrested.”

The police would not answer specific questions, but released a statement from Detective Senior Sergeant Craig Hamilton, the officer in charge of the asset-recovery unit.

“Police have begun the process of restraining the assets of a 43-year-old Auckland businessman and his 38-year-old female partner as part of an ongoing Criminal Proceeds Recovery investigation,” it read.

“This is a complex investigation which is focused on the laundering of large amounts of money that police believe has been accumulated through illegal activity.

“Police are working hard to ensure that innocent third parties who are involved in business arrangements with the couple will have their interests protected and that only those directly involved in money laundering activities will be affected by the restraint of assets.”

Murky dealings, and ably supported by a bevy of Labour politicians.

 

– Hacked from NZ Herald


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