How To Find Exact Match with Image Screening? Read Now

News / Multi Million Gold Laundering Caught by Germany’s Financial Intelligence Unit

Multi Million Gold Laundering Caught by Germany’s Financial Intelligence Unit

Multi million Gold Laundering Case in Germany hint towards possible instance of commercial money laundering.

02 min read

A major investigation has once again begun its course in Germany.  This is a probe into a money laundering scandal  involving several million euros in gold transactions.

As confirmed by the sources, the origin of the gold is unknown however, the flow of  laundering scheme involved:

  • Purchase of gold in Germany
  • Followed by transit to Turkey
  • Re-import  back to Germany in the new form of  gold jewelry

The potential suspect in this case is a 43 year old individual who is believed to have used economically bogus and inactive companies to conceal the actual origin of gold, precious metals and money flows.

Dating back to October 2023 a total of €522,000, illegal weapons and 19 kilograms of gold were caught and seized at custom control in Prüm, depicting Germany’s involvement in many such cases linked to money laundering.

Under the light of recent events, this significant breakthrough came in response to extensive investigation conducted by Germany’s Financial Intelligence Unit (FIU) based in Cologne and Dresden.

According to the investigators, “ the anomalies involved pointed towards significant connection with money laundering. Thus, detailed operational analysis has been compiled in a report and passed onto relevant regulatory bodies” for detailed insights on progression of this case.

On March 21 extensive business documents, digital data, video systems were seized from five residential and commercial premises in Düsseldorf and Markgräflerland, as part of ongoing investigation, as confirmed by media sources.

Continuing the course of in-depth investigation, a 43 year old accused individual and his accomplice has been suspected of being involved with a gold transaction scandal.

In conclusion, this case is being closely managed by the Saarbrücken public prosecutor’s office. The investigation was initiated based on suspicious indications identified by the Financial Intelligence Unit (FIU), a government agency responsible for investigating suspicious financial activities.The FIU’s findings were then shared with the Saarland State Police Department for further action, which is highly anticipated.

Contact Us

Category

Watchlists

Industry

Financial Services

Published Date

March 26, 2024

Subscribe to our Newsletter

Our best articles, news and stories, delivered to your inbox every week.

    Scroll to Top