Cocaine Worth HK$240m Seized, 2 Arrested

"); jQuery("#212 h3").html("

"); });
2019-04-27 HKT 14:19
Customs officers said on Saturday that they have made a substantial drug bust, after finding 250 kilograms of cocaine valued at around HK$240 million.
Officers found the drugs in two flats in To Kwa Wan and Tsim Sha Tsui, as well as a hotel room in Yau Ma Tei.
They have arrested two foreign men, who are believed to be core members of a transnational drug-trafficking syndicate.
Officers said the men tried to evade authorities by posing as high-end tourists and using brand-named suitcases to transport the drugs.
The drugs are believed to be supplied to the Asia-pacific area, and their source is linked to local triads.
The suspects will appear in Kowloon City court next week.
2025 Hong Kong Fintech Report: What You Need To Know
Hong Kong is hitting the gas when it comes to fintech innovation, regulation and adoption. From the passage of the Stab... Read more
DigiFT Secures SFC Licenses To Offer Tokenised Asset Services In Hong Kong
DigiFT, a Singapore-based digital asset platform focused on institutional-grade tokenised real-world assets (RWAs), has... Read more
JCB Contactless Cards Now Accepted On Shanghai And Beijing Subways
Japan’s JCB has announced that JCB cardholders can now use their contactless cards to access the subway systems in Sh... Read more
Hong Kong Sets Out Next Phase Of Digital Asset Policy
Hong Kong’s Financial Services and the Treasury Bureau (FSTB) has issued an updated policy statement setting out the ... Read more
Hong Kong Overtakes Singapore In Wealthtech Adoption
Across Asia-Pacific (APAC)’s key wealth management hubs, Hong Kong is emerging as the frontrunner in wealthtech, over... Read more
Chinas AI Capex To Hit 700 Billion Yuan In 2025 Amid US Tech Rivalry
Capital expenditure on AI in China is expected to reach between 600 billion yuan and 700 billion yuan (US$84 billion to... Read more