Hong Kong police have arrested 15 people in a crackdown on a triad-linked money laundering syndicate accused of handling more than HK$1.1 billion (US$142 million), with tens of millions of dollars in cash and assets found at the suspected ringleader’s flat.

Police said on Sunday that the group were taken into custody earlier this week on suspicion of money laundering, operating illegal gambling dens and gambling in such establishments, among other offences.

The suspects comprised 10 men and five women aged 27 to 62, with five having already been charged and set to appear at Kowloon City Court on Monday, the force said.

Police launched an operation targeting triad-linked crime and illicit financial activities last year, executing search warrants at multiple locations across Kowloon and the New Territories, including a finance company, before making the arrests on Thursday.

Superintendent Ching Chi-yan, an assistant Yau Tsim police district commander, said one of those arrested was a 35-year-old man believed to be the alleged ringleader of the syndicate.

A source said the man was allegedly linked to the Sun Yee On triad group, while five of the other suspects were believed to be core syndicate members.