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Taiwan seizes $62.4-M cocaine

TAIPEI (PNA/Xinhua) – Taiwan investigators said Monday that they had solved the island’s biggest-ever drug-trafficking case and seized more than 200 kilograms of cocaine.

The market value of the seized cocaine is estimated to exceed 2 billion new Taiwan dollars (around $62.4 million), investigators said, adding they had also seized more than 50 kilograms of methamphetamine.

Investigators received tip-offs that a Taipei company had, on multiple occasions, exported “large vehicle batteries” by sea or air to Australia at unreasonably high freight costs.