|Chennai||Rs. 27770.00 (-0.14%)|
|Mumbai||Rs. 29200.00 (2.31%)|
|Delhi||Rs. 27900.00 (-0.36%)|
|Kolkata||Rs. 28270.00 (1%)|
|Kerala||Rs. 27050.00 (-0.37%)|
|Bangalore||Rs. 27550.00 (1.66%)|
|Hyderabad||Rs. 27770.00 (-0.14%)|
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.