A 22-year-old Mainlander was jailed for 10-and-a-half years by the High Court today for money laundering.

Police found the man bought a local company through a secretarial company in July 2009. He then opened a bank account in the name of the company and a personal bank account for money laundering involving a total of $13.1 billion in suspected crime proceeds.

Officers arrested the man on January 28 last year. He was charged with one count of dealing with property known or believed to represent proceeds of an indictable offence.

A total of $5.88 million in the two bank accounts was restrained. Police will apply to the court to confiscate crime proceeds in accordance with the Organised & Serious Crimes Ordinance.