BD 26,000 Fines in Gold Smuggling Scam

TDT | Manama

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Gold bars smuggled abroad through a travel ticket scam have landed a jewellery shop owner and three accomplices fines totalling BD 26,000, as a criminal court ordered the confiscation of the precious metal and the shop’s financial records, the Public Prosecution announced on Thursday.

The court hit the shop owner with a BD 10,000 fine, while two of his accomplices were jointly fined BD 15,000. A fourth defendant was ordered to pay BD 1,000. Gold bars and the jewellery shop’s account ledger were also seized after the court found the group guilty of false financial disclosure, failing to report suspected money laundering, and running an unlicensed business.

Investigations by the Financial Intelligence National Centre (FINC) uncovered a cross-border gold smuggling racket that used unsuspecting travellers as couriers. Ads posted on social media promised free airline tickets to volunteers keen on travel. Once signed up, they were instructed to carry gold bars abroad, armed with forged invoices falsely listing them as owners, allowing them to breeze through customs and deliver the gold to recipients in another country.

Acting immediately, the Public Prosecution imposed travel bans on the suspects, seized their phones, and scrutinised their bank accounts and personal assets. Investigators also interviewed several travellers caught in the scheme, who confirmed that two of the defendants lured people with free flights in exchange for transporting luggage containing gold bars.

The plot thickened when it emerged that the jewellery shop owner had supplied forged invoices, allowing the group to fake buyer details for customs clearance. Meanwhile, the fourth defendant was found guilty of lying about the source of the gold bars.

Faced with mounting evidence, the defendants admitted to repeatedly using the same method to smuggle gold abroad while evading detection. The case was referred to the criminal court, which handed down its verdict.