As the pace of capital outflows from China gathers pace (as detailed here, here, here, and here) it appears the Chinese are not satisfied with just Bitcoin. Today, in a scene straight out of the Wolf of Wall Street, we learn that a man was caught by Shenzhen officials as he tried to leave the country with US$74,000 strapped to his waist.
Mainland rules state that people who leave the country with more than US$5,000 in cash must notify the customs authority, which will then issue a bank certificate permitting the funds to leave the country – if authorities choose to allow it. The man clearly wasn't about to go down that path and alert authorities (at least intentionally) that he was leaving town with US$74k, something that will let's say be “frowned upon” by Chinese authorities.
Shenzhen officials became suspicious of the man because he wore a jacket even though it was hot and humid, and then the “surprisingly plump” looking man appeared nervous while queuing up to pass through customs. After he was stopped and questioned by customs officers, an alarm sounded when a scanner revealed that the man had US dollars packed into six large pockets that were sewn into a large scarf and wrapped around his waist.
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It is unclear what the ultimate fate of the man will be, although there is a good chance he will be “disappeared” – should have gone with the girl…