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Libyan Officials Arrested for Smuggling 26,000 Kg of Gold

May 13, 2024
Libyan Officials Arrested for Smuggling 26,000 Kg of Gold
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The Libyan Attorney General’s Office has ordered the detention of high-ranking customs officials in connection with a massive gold smuggling operation. The involved parties allegedly facilitated the illicit transfer of approximately 26,000 kilograms of gold through Misrata Airport’s customs, violating national regulations.

The Attorney General’s office stated that the customs officials, including the Director-General of the Customs Authority and the Head of Misrata Airport Customs, deliberately conspired with others to smuggle 25,875 kilograms of gold bars. This act was aimed at obtaining unlawful financial benefits. The investigation has revealed that these officials engaged in “irrational behaviors” by breaching regulatory laws intentionally.

According to the World Gold Council, Libya holds the second-largest gold reserves in Africa, with a net total of 147 tons as of 2023. This vast reserve underscores the significance of the recent smuggling incident, highlighting potential vulnerabilities in the management and security of the nation’s gold assets.

In a separate legal development, the Tripoli Criminal Court has convicted six employees of the Republic Bank’s Future Branch. The court found that these individuals facilitated unauthorized access to foreign currency designated for personal and family use without proper financial deposits, in violation of the regulations.

The court sentenced four of the convicted employees to one year in prison. A fifth employee received a sentence of one year and six months, while the sixth, a female employee, was given a one-year suspended sentence and fined 2,000 Libyan dinars. She is also required to return the proceeds of the crime.

Meanwhile, the Tripoli Criminal Court acquitted two other accused in the case due to insufficient evidence.

These cases reflect ongoing efforts by Libyan authorities to tackle corruption and enhance the integrity of governmental and financial institutions. The actions taken are part of broader measures to restore public trust and establish a more transparent and accountable governance framework in the country.

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