The amount, worth around 2 million Hong Kong dollars, was handed in to police last summer by a honest taxi driver who found it in the back of his cab, the South China Morning Post said.
When it was not claimed after three months, the taxi driver tried to claim it under police rules which stipulate the finder of lost property can do so if the owner has not come forward.
However, newspaper reports at the time alerted the original owner of the money, who said he had won it gambling in Macau and not reported the loss because he never imagined someone would hand it in.
According to one police officer quoted by the Post, both are now claiming the cash, and the police could be sued by the one who loses out if they hand it over.
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