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Libya Arrests Customs Officers for Smuggling $2 Billion of Gold

Libya Arrests Customs Officers for Smuggling $2 Billion of Gold %Post Title

 

 

 

 

 

 

 

 

 

 

 

Libyan authorities arrested several high-ranking customs officials in connection with a foiled attempt to smuggle about US$2 billion (RM9.43 billion) worth of gold.

 

The detainees, including the director-general of the customs authority and the head of customs at Misrata airport, allegedly conspired with others to traffic about 26 tonnes of gold bullion, according to a statement on the Facebook page of the Attorney General’s Office. That would be valued at about US$2 billion at current prices.

 

The shipment represents almost a quarter of Libya’s gold reserves of about 116.6 tonnes, the fourth-highest in Africa.

 

Libyan law states only the central bank can export gold, said the office, which opened an investigation into the case in January.

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