Tokyo prosecutors arrested four people Tuesday on suspicion of smuggling 500 kg of gold bullion from Hong Kong and evading 35 million yen in consumption tax.
The ring, led by precious metal dealer Hiroyuki Yabuzaki, 46, of Abiko, Chiba Prefecture, had allegedly smuggled a total of 1 ton of gold bullion for sale in Japan, investigative sources said.
The four smuggled the 500 kg of gold through Narita airport by concealing it in shipments of machine parts on more than 40 occasions in January and February, they said.
No tariffs are imposed on gold imports, but gold importers must pay the 5 percent consumption tax. The sources said the men are suspected of evading a total of some 100 million yen in tax and other charges.
Yabuzaki was convicted and sentenced to 20 months in prison in April 2000 for smuggling 242 kg of gold bullion from Hong Kong.