94,000kg of gold at centre of money-laundering scheme, officials say

A gang sought to smuggle it into country, deposit it in banks, then transfer it abroad, according to the state news agency, WAM.

ABU DHABI // State Security officials busted a money-laundering operation that involved smuggling nearly 100,000 kilograms of gold into the country, according to the state news agency, WAM.
The gang was planning to funnel 94,410kg of gold into banks, then transfer it to several foreign countries. Ministry of Interior inspectors, however, discovered the smuggling attempt and rounded up members of the network.
The gold was to be smuggled in oil tankers from an unnamed African country to a neighbouring country, where two members of the gang would receive it and arranged for it to be sneaked into the UAE.
Police arrested a member of the ring trying to enter the country through the Ghuweifat border checkpoint carrying 10 million Saudi riyals (Dh9.8 million) hidden in the truck, according to WAM.