A tobacco executive and three others have been charged for allegedly laundering $50.3 million, believed to be proceeds of suspected cigarette smuggling and corrupt activities.

Nanyang Brothers Tobacco Chairman Lu Dayong, 57, Hang Chun Trade Development Director Ko Kit, 35, Hang Chun Sales Manager Chan Kai-san, 36, and former Hang Chun Director Lin Jianding, 38, will appear at Eastern Magistracy tomorrow to face a joint holding charge under the Organised & Serious Crimes Ordinance.

The charge alleges that between December 1 last year and February 23, the defendants conspired together to deal with sums of money, knowing or having reasonable ground to believe the money, in whole or in part, directly or indirectly, represented proceeds of an indictable offence.

Independent Commission Against Corruption enquiries have found the money was allegedly generated through corruption and smuggling.

Inquiries into the corruption aspects of the case are underway.