Police Make Biggest Cocaine, Cannabis Busts Of 2023

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

Related News Programmes

"); });

2023-05-26 HKT 17:45

Share this story

facebook

  • Police make biggest cocaine, cannabis busts of 2023

Police said on Friday that officers have made the biggest drug seizures of the year for both cocaine and cannabis.

Officers raided six drug storage warehouses belonging to the same syndicate in Kwun Tong, Hung Hom, Kwai Chung, Lai Chi Kok, and To Kwa Wan between Wednesday and Friday.

Police seized about 592 kilogrammes of suspected cocaine and about 91 kilogrammes of suspected cannabis.

The drugs are believed to be worth around HK$650 million.

Four men aged 25 to 32 were arrested and charged with trafficking dangerous drugs.

"We believe that the drop in the price of cocaine has attracted local criminal groups to seize this opportunity to stockpile large amounts of cocaine for supply to the local market," Chan Kong-ming, a senior superintendent in the narcotics bureau, said.

"[The syndicate] spared no expense to constantly rent different warehouses to store drugs and minimise the risk of getting caught. They stockpiled a large quantity of drugs to have the flexibility of distributing them in batches in the future," he added.

The syndicate shipped the suspected cannabis along with frozen fish products into the city to mask the smell of the drug, the force added.

The case will be mentioned at Kwun Tong Magistrates' Courts on Saturday.

RECENT NEWS

EDENA Unveils AI System To Automate Sovereign Asset Settlement

At the DAT Summit Hong Kong, EDENA Capital Partners launched the Autonomic Financial OS. The company describes it as an... Read more

Naver Exposes 15,000 Knowledge IN Users Activity, Moves To Improve Privacy Controls

Naver has announced measures following an incident in which around 15,000 users’ activity histories on Knowledge iN w... Read more

Japans PayPay Files For US IPO, Targets Valuation Above US$10B

SoftBank‘s digital payments unit, PayPay, has filed publicly for a US IPO. The listing could be the largest by a Japa... Read more

Inference Research Launches In Hong Kong With US$20M Seed Funding

Inference Research, an AI-native quantitative trading firm based in Hong Kong, has announced its launch and the expecte... Read more

London-Based Unlimit Appoints Michele Fung To Lead APAC Expansion

London-based fintech company Unlimit, which provides a broad range of financial technology services, has appointed Mich... Read more

SoFi Launches Digital Asset Trading In Hong Kong Through OSL Partnership

SoFi Securities (Hong Kong) (SoFi Hong Kong) and OSL Group have announced a partnership to offer digital asset trading ... Read more