Hung Hom Million-Dollar Gold Bar Theft Case | Police Investigating Whether Someone Impersonated Buyer

Police arrested five people yesterday, suspected of stealing 73 gold bars worth approximately HKD 93 million from an office building in Hung Hom. The stolen gold bars have been recovered. One of the arrestees was previously a business partner of the company’s owner.

The five suspects—four men and one woman aged between 31 and 58—were detained after the incident occurred around 2 p.m. yesterday. At that time, a gold transaction was taking place in an office unit on Chung On Street, Hung Hom. During the transaction, three individuals suddenly entered the unit, claiming that the company’s responsible person owed a debt. They, along with the buyer involved in the transaction, placed 73 gold bars into suitcases and left. Company staff tried to stop them but were unsuccessful. Subsequently, the suspects, along with a man acting as a lookout outside the unit, left the scene in two private cars. The company staff immediately notified their employer and called the police.

After investigation, police identified the suspects and arrested all five last night in Central and Tai Po. They all hold Hong Kong ID cards and are currently being detained. The stolen gold bars were recovered near the suspects’ residences and inside their private cars.

Chief Inspector Chiu Yu-hing of the Kowloon West Regional Crime Unit’s Major Crime Squad said the involved unit is a registered company authorized to buy and sell gold. Usually, employees handle security, but two staff members were not in the office at the time due to the buyer’s request. Police are investigating whether the case involves someone impersonating a buyer to set up a trap, deliberately provoking staff to produce a large quantity of gold bars for theft.

The five arrestees include a male mastermind, an intermediary agent who previously helped the gold shop with procurement and transactions to earn commissions; the other four suspects include the male buyer, the mastermind’s wife, and a business partner. Investigations show that one of the suspects was previously a business partner of the company owner but is no longer involved.