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Robbers Take $1.6 Million in Cash, Gold

February 11, 1988

HONG KONG (AP) _ Five masked men made off with $1.6 million in gold and cash in a holdup of a trading company van early today in Hong Kong’s biggest robbery on record, police said.

The van was carrying nearly 300 pounds of gold worth $1.86 million and $128,000 in cash to the airport for shipment to Taipei, Taiwan’s capital, police said.

Robbers in two cars, armed with two pistols and an ax, forced the van to stop in a tunnel at about 8 a.m. and ordered it onto a side street, where they grabbed most of the the loot and escaped.

About 50 pounds of the gold, worth $330,000, were left in the van, police said.

The van’s driver was slightly injured during a struggle, but the other four people in the van were unharmed, police said.

The stolen property belonged to a trading company named Chi Fat Hong, police said. Each of the gold bars weight 6.6 ounces and was inscribed with the Chinese characters for ″King Fook Goldsmith,″ police said.

The police Organised and Serious Crime Bureau was investigating the case. A spokesman said no arrests had been made.

Police spokesman Peter Hung said the robbery was the largest on record in this British colony.

In 1983, the Lane Crawford department store in Hong Kong’s central business district was robbed of $1.54 million in diamonds and jewelry.

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