146kg of the priceless material was seized as equipment parts by Hong Kong authorities, making it the city’s largest gold smuggling bust to date.
The haul, which was intercepted last month on its way to Japan, is thought to be worth more than$ 10 million ( £8 million ).
A 31- yr- older person has been arrested and released on bail pending more studies.
According to Hong Kong rules, smuggling constitutes a serious offense that can result in up to seven years in jail.
According to customs officials, they discovered the anomalous appearance and weight while looking at two air compressors that were headed for Japan on March 27.
An investigation eventually found both were riddled with gold that had been “moulded and camouflaged” into sections such as wheels, bolts, and engine components, according to a state statement on Monday.
Authorities believe the operation may have been sparked by a crime syndicate that tries to escape taxes in Japan.
In the face of confusion surrounding political stability, Hong Kong is one of the largest gold trading centers in the world, and the price of the commodity has been rising.
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15 October 2023
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