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July 18, 2024
PI Global Investments

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.

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