40.1 F
London
February 24, 2024
PI Global Investments
Gold

Macau-bound car found with gold bars worth HKD10 mln at HZM Bridge





A vehicle bound for Macau via the Hong Kong-Zhuhai-Macau Bridge has been found carrying gold bars worth HKD10 million (MOP10.3 million/ US$1.3 million), according to Hong Kong customs.

As many as 20 gold bars, each weighing one kilogramme, were found hidden
beneath a center console next to the driver’s seat, reported the South China Morning Post.

The incident came to light on Monday afternoon when the seven-seater car
was stopped for inspection at a checkpoint on the bridge.

A 32-year-old driver, a Macau ID holder, was apprehended during the
incident. He is now facing a maximum jail term of seven years and a
HKD2-million fine.

The customs authorities believe that the vehicle was heading for
mainland China, where smugglers could profit from a price difference.

Gold should be subject to a 50 percent tariff on the Chinese mainland
under strict import rules.

The seizure made on Monday was the first in over three years.




Source link

Related posts

Gold is stuck, but silver may have room to run as investors wait for the Fed

D.William

Apprentices strike gold to win new Green Chef Challenge contest

D.William

Should I invest in gold now that inflation is climbing?

D.William

Leave a Comment

* By using this form you agree with the storage and handling of your data by this website.