Indian Man Caught Smuggling Gold Bars in Chocolate Wrappers

india-gold

Holy Willy Wonka, Batman! Indian customs officials in Mumbai were tipped off about a man smuggling gold into India from Saudi Arabia on January 5, and intercepted him before he could board a connecting flight. The man, Abdul Latif, was carrying a bag that contained 25 chocolate bars. After searching his luggage, officials began unwrapping the sealed chocolate, finding gold bars in seven wrappers.

The seven gold bars were worth Rs 25 lakh (2,500,000 rupees, over $46,500 USD.) Latif said he was paid to fly to Riyadh to pick up the bag, then fly to Mangalore and travel to Kasargod in southwest India and deliver the bag to an unknown man.

Indian officials say that smuggling gold from the Middle East into India is commonplace, as prices are low enough there to make it profitable to fly over and back to India.

(information for this story from the Times of India)

Just a note: While we may not have gold bars in candy wrappers here at Gainesville Coins, we do have authentic Valcambi silver CombiBars that look like chocolate bars!

combibar

 

2 thoughts on “Indian Man Caught Smuggling Gold Bars in Chocolate Wrappers

    1. GainesvilleCoins

      India had a 4% import tax on refined gold coming into the country, which they just raised to 6%. Then there’s the premium that dealers have to charge to make any money. So, if you’re saving over 6% on a kilo of gold, it’s well worth the airplane ticket. :)

      Reply

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