Hong Kong police arrest 5, recover nearly HK$100 million in stolen gold bars
A fake buyer infiltrated a gold shop, allowing accomplices to seize the HK$100 million haul during a private handover.
Hong Kong police have made five arrests and successfully recovered nearly HK$100 million (US$12.7 million) worth of gold bars stolen in a sophisticated deception case. The incident unfolded on Friday afternoon at an office in Peninsula Square, Hung Hom, where a staff member from a gold shop was conducting a handover with a purported buyer. Police revealed the buyer was actually a member of the criminal group, having gained access under the guise of a legitimate transaction. Chief Inspector Alex Yau Yu-sing of the West Kowloon regional crime unit stated that, at the client's request for privacy, other staff had left the unit, creating the opportunity for several accomplices to enter and seize the massive haul.
Authorities are treating the case as 'obtaining property by deception.' Initial police inquiries led to the interception of a white vehicle on the North Lantau Highway, but it was later confirmed to be unrelated. The investigation is ongoing, with police seeking three additional individuals believed to have fled the scene. The recovery of such a high-value haul represents a significant success for the West Kowloon crime unit in combating organized financial crime in the city.
- Five arrests made and nearly HK$100 million (US$12.7 million) in gold bars recovered.
- The heist used a fake 'buyer' to infiltrate a private gold transaction in Hung Hom.
- Police are seeking three more suspects who fled the scene at Peninsula Square.
Why It Matters
Highlights sophisticated financial crime tactics and a major law enforcement success in recovering stolen assets.