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AN investigation into alleged gold smuggling has been finalised with proceedings now underway to refer suspects in an airport arrest to a criminal trial.
According to Financial Crimes and Money Laundering Prosecution Chief Prosecutor Mohammed Sultan, the investigation revealed that the defendants – identified as only Asian – purchased gold bars in amounts ‘exceeding the maximum permissible payment in cash’.
The GDN previously reported on October 14 that the men were arrested at Bahrain International Airport attempting to smuggle gold valued at BD43,000 out of the country.
Officers were checking the baggage of departing passengers when they discovered and seized 16 gold bars.
“The Asian defendants purchased gold bars in amounts exceeding the maximum permissible payment allowed in cash violating a decision by the Industry, Commerce and Tourism Minister Zayed Alzayani for gold and jewellery traders,” said Mr Sultan in an official statement.
“They tried to transfer them outside the country without full disclosure as required by the Finance and National Economy Minister Shaikh Salman bin Khalifa Al Khalifa.
“This is a clear violation of laws in place to combat money laundering and terrorism financing and the Public Prosecution remanded the defendants pending a criminal trial.”
According to Mr Sultan, the Public Prosecution received an alert from the Financial Investigation Department stating that eight defendants were arrested while trying to leave the country – each possessing two gold bars hidden in their luggage without disclosing them to customs officers.
He also revealed that two gold shop owners were also arrested for selling the gold bars in return for cash exceeding the maximum amount allowed.
“Following the complaint a full investigation was launched and the suspects were interrogated where they admitted the crimes.”
He also called on institutions and individuals concerned to abide by the legal provisions in order to activate community partnership in combating crime and warding off its risks to society.
Customs officials told the GDN that gold bars were not allowed to be carried out of Bahrain and people were limited to BD300 worth of gold jewellery without paying duties of five per cent on any excess.
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