Woofun AI reports that the Hong Kong Regional Court convicted Xiao Rui, son of former Wuhan Supervisory Commission member Xiao Jun, on four money laundering charges and one charge of using false documents. The court found him guilty of laundering over HK$64 million through underground banks and accepting approximately HK$4.72 million in bribes on his father’s behalf. Xiao Rui claimed the funds were proceeds from selling Bitcoin or legal business profits, but the judge dismissed the Bitcoin defense due to missing transaction details. Sentencing is scheduled for July 23.