24 Hrs
Source:
AL24 News
UAE Accused of Colombian Gold Smuggling
Investigations reveal the existence of illegal gold smuggling routes from mining regions in Colombia through Venezuela to Dubai. These routes rely on networks that use cryptocurrencies, private jets, and covert operations to conceal the origin of the metal. The process involves transporting gold to Colombian cities, then crossing into Venezuela where it is melted down and transformed into bars before being smuggled into Dubai via travelers' luggage and private aircraft. The involvement of Dubai in this route raises questions about its role in receiving and laundering the smuggled gold—especially given the facilitation of financing transactions through the digital currency "Tether," which is used to purchase gold from producers in Colombia. This makes it difficult to trace the origin of the metal and the supply chain, feeding suspicions of Emirati involvement in the distribute of illegal gold.
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