|Chennai||Rs. 24020.00 (-0.17%)|
|Mumbai||Rs. 25020.00 (0.28%)|
|Delhi||Rs. 24450.00 (0%)|
|Kolkata||Rs. 24600.00 (-0.32%)|
|Kerala||Rs. 24050.00 (0%)|
|Bangalore||Rs. 24160.00 (-0.17%)|
|Hyderabad||Rs. 24030.00 (-0.12%)|
Police say they have seized $3.8 million worth of gold ingots from a Taiwanese man suspected of laundering money for crime rings in Hong Kong.
Police say gold ingots weighing 64 kilograms (141 pounds) along with NT$29 million ($1 million) in cash were seized Wednesday at a jewelry shop, one of 19 shell companies set up by Shih Sung-lin to launder money.
Shih has been arrested in the case. He denied wrongdoing.
Police say the crime rings have wired more than NT$100 billion to Taiwan since 2006 by wiring small sums to countless dummy accounts to evade foreign exchange restrictions.
Local media allege that Taiwan has replaced Macau as a preferred site to launder money for corrupt Chinese officials in the wake of the territory's 1999 handover to China.