BusinessWeek reports that the Chinese government recently broke a money laundering ring that sent over $1.46 billion in illegal transfers to Vietnam. One of the major ring leaders, Ruan Zhizhong, opened up 77 accounts and illegally transferred over $1 billion through 10,000 transactions over a period of four years. Many Chinese investors have turned to the underground banks which were run by the alleged gang, in order to evade restrictions put on by the Chinese government.
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