TAIPEI: Taiwanese police and prosecutors have seized more than $3.8 million worth of gold ingots in a probe into a money laundering ring, authorities said on Thursday.
The ring, run by two men, was accused of recruiting homeless people in central Taiwan to open at least 19 dummy jewellery companies since 2006 to launder money from abroad through the sale of gold, a prosecutor said.
Various sizes of gold ingots weighing 64 kilograms (141 pounds) in total were seized on Wednesday in one of the biggest cases of its kind, she said.
The two men and 26 others were questioned for their alleged role in the money laundering operations. Local reports said the clients were mainly from China and Hong Kong while the prosecutor declined to comment.
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