Billionaire Thomas Kwok sentenced to five years on misconduct charge . Hong Kong 's former No.2 official sentenced to seven and a half years . Rafael Hui , 66 , is the highest-ranking former official to be tried in Hong Kong . Raymond Kwok was cleared of all charges . - The U.S. Treasury Department said it has frozen assets of three Chinese citizens who were accused by federal prosecutors of helping smuggle more than $900 million into China from 2003 through 2007.
Billionaire Thomas Kwok sentenced to five years on misconduct charge . Hong Kong 's former No.2 official sentenced to seven and a half years . Rafael Hui , 66 , is the highest-ranking former official to be tried in Hong Kong . - The U.S. Treasury Department said it has frozen assets of three Chinese citizens who were accused by federal prosecutors of helping smuggle more than $900 million into China from 2003 through 2007.