Raids on gold shops uncover Bt200bn money laundering operation

[misskit]

"Hanuman" special forces have raided 300 gold shops and gas outlets that police said were being used by drug traffickers in a money-laundering operation worth more than Bt200 billion.


Deputy police chief Suchart Thirasawat said on Friday (June 19) that Metropolitan Police had joined with the Central Investigation Bureau, Narcotics Suppression Bureau and other agencies in nationwide raids on suspicious gold shops this week.

Police were tipped off by arrested members of the trafficking gangs that billions of baht in drug money was flowing into gold shops, where it was being disguised as legitimate earnings.

Investigations revealed the operation was partly being run by inmates issuing orders from prison. Corrections Department director-general Narat Sawettanan has been notified of investigators’ findings. Suchart said several owners of gold shops raided in Yaowarat, Bangkok’s Chinatown, have already confessed to laundering money for drug traffickers.

Three-hundred suspects have so far been arrested while another 100 are being sought. Police have also seized drugs and other assets worth Bt70 million.

Raids on gold shops uncover Bt200bn money laundering operation

[harrybarracuda]

"Hanuman" special forces have raided 300 gold shops and gas outlets that police said were being used by drug traffickers in a money-laundering operation worth more than Bt200 billion.


Deputy police chief Suchart Thirasawat said on Friday (June 19) that Metropolitan Police had joined with the Central Investigation Bureau, Narcotics Suppression Bureau and other agencies in nationwide raids on suspicious gold shops this week.

Police were tipped off by arrested members of the trafficking gangs that billions of baht in drug money was flowing into gold shops, where it was being disguised as legitimate earnings.

Investigations revealed the operation was partly being run by inmates issuing orders from prison. Corrections Department director-general Narat Sawettanan has been notified of investigators’ findings. Suchart said several owners of gold shops raided in Yaowarat, Bangkok’s Chinatown, have already confessed to laundering money for drug traffickers.

Three-hundred suspects have so far been arrested while another 100 are being sought. Police have also seized drugs and other assets worth Bt70 million.

Raids on gold shops uncover Bt200bn money laundering operation

70 million baht?

Is that "net" or gross?

[jabir]

Not bad, win-win, everybody happy, 70m lost from an operation valued at 200bn is a acceptable working overhead to the crims, the chinks pay a fine and resume their heinous activities next week week or month, cops recover some of their lost non-declarable income due to lockdown, and the state benefits from the documented amount.

[harrybarracuda]

Not bad, win-win, everybody happy, 70m lost from an operation valued at 200bn is a acceptable working overhead to the crims, the chinks pay a fine and resume their heinous activities next week week or month, cops recover some of their lost non-declarable income due to lockdown, and the state benefits from the documented amount.

I was more implying that Bt70m seemed a bit low, hence the comment regarding the "commission", or perhaps it was evaporation.

[jabir]

Same here, the documented amount being after evaporation.

[Saint Willy]

who'd have thunk it? Gold shops money laundering havens?

[kmart]

^Increasingly so now that the usual cash-rich businesses like bars, go-go's, and restaurants etc have been closed for months.

[Saint Willy]

^Increasingly so now that the usual cash-rich businesses like bars, go-go's, and restaurants etc have been closed for months.

Yes, tough times for everyone!