Police arrested 5 suspects – 4 men and one woman – hours after the crime and recovered 73 gold bars
Hong Kong has been the target of yet another large-scale gold theft, following a theft of 65 kilograms in September 2025. On the afternoon of March 20, 73 kilograms of gold bars, valued at approximately 93 million Hong Kong dollars (US$11.9 million), were stolen in broad daylight from an office building on Peninsula Square in Hung Hom.
Hong Kong police solved the case quickly, arresting 5 suspects — 4 men and one woman — that same night and recovering all the stolen gold.
In an interview with journalists held on March 21, Yau Yu-sing, chief inspector of West Kowloon Regional Crime Unit Team 1, provided details of the crime.
At around 2pm on March 20, a 39-year-old man surnamed Jiang pretended to be a buyer at a jewelry store in Peninsula Square, claiming he intended to make a large purchase of 73 gold bars. During the transaction, Jiang requested that 2 store security guards temporarily leave, arguing “privacy concerns”.
Shortly afterwards, 3 of Jiang’s accomplices entered the store, saying that the owner owed a huge amount. Jiang and his accomplices quickly removed the 73 gold bars – each weighing 1 kilogram – from the table and placed them in a prepared suitcase. They fled the scene in 2 private cars, accompanied by a 32-year-old accomplice who was keeping watch outside.
After the incident, store employees immediately notified the owner and recorded the incident. The West Kowloon Regional Crime Unit took over the investigation.
By analyzing extensive security camera footage from the location and surrounding areas, and carrying out a detailed intelligence analysis, police quickly identified the 5 suspects and their escape routes.
That night, police officers carried out surprise raids in the Central and Tai Po districts, successfully arresting the 4 men and the woman. In a vehicle parked near the residence of one of the suspects arrested in Tai Po, police found the suitcase containing 73 kilos of gold, completely intact.
Hong Kong police revealed that the robbery was a crime committed by someone inside the company. Yau stated that the mastermind among the 5 arrested is a man who previously worked as a supply and delivery agent for the targeted jewelry store, although he had already severed ties with the company at the time of the robbery. The other 4 arrested include the intellectual mentor’s wife and his associates.
Police are continuing to investigate whether there was indeed a debt dispute involving the jewelry store. They also warned the public not to disclose their whereabouts and transaction details to third parties when dealing with high-value goods or large amounts of cash, to prevent criminals from exploiting this information.
A similar gold robbery was carried out in Hong Kong in the early hours of September 17, 2025. Seventeen men arrived at a gold processing factory in the Fu Hang Industrial Building in Hung Hom, entered directly into a warehouse and took around 65 kilograms of bars, ingots and gold dust. The stolen gold was valued at around HK$59 million at the time.
The organized crime mastermind of 2025 is believed to be a former partner in the gold processing factory who had a financial dispute with the factory manager over the withdrawal of shares and distribution of profits.
During the incident, the mentor led the group of men to the factory under the pretext of transporting goods. Factory employees, recognizing the acquaintance, assumed it was a routine operation. The police solved the case in 2 days, arresting 13 people and recovering all the stolen gold.
This was originally published in English by Caixin Global on March 23, 2026. It was translated and republished by Poder360 under mutual content sharing agreement.
