Hong Kong customs seizes gold disguised as machine parts worth HK$84 million, the most valuable haul in its 115-year history
- Gold parts shaped as two motor rotors, a gear and three screw shafts discovered in Japan-bound consignment, customs says
- Acting Senior Superintendent Jason Lau says haul is biggest seizure of smuggled gold in terms of value in its 115-year history
Hong Kong customs has seized gold worth HK$84 million (US$10.7 million) disguised as machine parts in two air compressors from a Japan-bound consignment at the city’s airport, the biggest smuggling bust of the precious metal in terms of value in its 115-year history.
Acting Senior Superintendent Jason Lau Yuk-lung of customs’ syndicate crimes investigation bureau said on Monday that it was the first time officers had discovered gold was “moulded and camouflaged as machine components” in a smuggling case.
Lau said the director of a local company was arrested last week in connection with the gold-smuggling attempt that was uncovered on March 27.
A preliminary investigation suggested the smuggling operation was designed to evade import tariffs of about 10 per cent in Japan, he added.
“Smugglers could have evaded about HK$8.4 million in taxes if the precious metal was successfully smuggled into the country,” Lau said.
The consignment, bound for Tokyo and comprising two air compressors with a combined weight of 775kg (1,708lbs), was selected for inspection at the airport’s cargo terminal on March 27, according to the Customs and Excise Department.