Xiao Rui, son of former Wuhan Supervisory Commission member Xiao Jun, has been convicted by the Hong Kong District Court for laundering over HK$64 million. The court found Xiao guilty on four counts of money laundering and one count of using a false instrument, with sentencing set for July 23. Xiao allegedly accepted bribes totaling HK$4.72 million from mainland Chinese contractors on behalf of his father and funneled the funds through underground banking channels. Xiao, who gained Hong Kong residency in 2014, claimed that the funds were legitimate business earnings from his mother and included proceeds from Bitcoin sales. However, the court dismissed this defense due to a lack of transaction records, such as dates or wallet addresses, to substantiate the Bitcoin sales claim.