HK$110m Worth Of Suspected Cocaine Seized

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

Related News Programmes

"); });

2022-03-26 HKT 14:24

Share this story

facebook

  • HK$110m worth of suspected cocaine seized

The Customs Department said on Saturday that it had seized suspected cocaine with an estimated market value of about HK$110 million, and arrested two teenagers and a woman.

Vincent Lee, who heads the department's drug investigation group, said they became suspicious after X-raying an electric transformer shipped in from Costa Rica last month.

Authorities then disassembled the oil-filled object to find around 120kg of suspected cocaine inside metal compartments, before restoring the "transformer" for the delivery company to give it to the alleged drug syndicate.

Officers said the syndicate had changed the storage location several times, and it wasn't until around 20 days later that two teenage boys signed for the item in rural San Tin.

The pair, aged 14 and 15, were arrested on Thursday and have been charged over attempted drug trafficking. They will appear at the Fanling court on Monday.

A 49-year-old woman who said she worked for a logistics company was also arrested on Friday.

Lee said the pandemic has changed the way drug syndicates transport their goods, saying they now tend to transport drugs in bulk by sea or air due to travel restrictions.

RECENT NEWS

Circle CEO Says China Could Launch Yuan Stablecoin In 3 To 5 Years As Trade Grows

Circle CEO Jeremy Allaire predicts that China could roll out a yuan stablecoin within three to five years to expand the... Read more

Naver IPO Timeline Set As Dunamu Merger Targets Nasdaq Debut

Preparations for a Naver IPO are underway following an agreement between Naver Financial and cryptocurrency exchange op... Read more

TransUnion Urges Lenders To Rethink Credit Risk For Gig Workers In Hong Kong

TransUnion is urging lenders to update their risk assessment models, revealing that gig workers in Hong Kong exhibit st... Read more

Citi And Endowus Roll Out HK$4,000 Wealth-Linked Credit Card Campaign

Citi and digital wealth platform Endowus have launched a joint credit card promotion in Hong Kong, expanding the Citi E... Read more

Aspire Secures SFC License In Hong Kong To Launch SME Yield Product

Singapore-headquartered fintech Aspire has secured three financial licenses from the Securities and Futures Commission ... Read more

Why Stablecoins May Become The Backbone Of 24/7 Global Trade

Stablecoin transaction volumes surged 72% in 2025, reaching a record US$33 trillion and signalling growing institutiona... Read more