HONG KONG: Hong Kong authorities have arrested two men for laundering funds worth HK$3.5 billion (US$446 million) by reselling precious metals, one of the city’s largest money-laundering cases, officials said Wednesday.The two were involved in a scheme selling around eight tonnes of precious metals – mostly gold and palladium – between 2020 and 2021 for returns “incommensurate” with their backgrounds, customs official Rita Li said at a press conference.It was a record for money-laundering cases busted by Hong Kong Customs, Li said, although the police have cracked larger cases.Precious metals can be bought and sold anonymously in Hong Kong and are attractive to criminals because of their hig
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