With the Gold Mafia free, is Zimbabwe’s gold tokens initiative in danger?

by Digital Brainiacs
0 comment 1 minutes read

Alleged Zimbabwean gold smugglers, accused of looting the country’s gold reserves, have been cleared of any wrongdoing as Zimbabwe proceeds launch of gold tokens backed by the country’s reserves.

In February, Al Jazeera put out a four-part documentary, titled ‘Gold Mafia‘,  purporting to show the looting of gold reserves via smuggling and money laundering by high-ranking officials in the Zimbabwe government, all the way to the president.

In the documentary, Al Jazeera revealed how a group of money launderers and gold smugglers had effectively taken over several South African banks by bribing key members, allowing the criminals to send large amounts of gold smuggling funds overseas without raising the suspicions of the authorities.

Now, following an investigation by Zimbabwe’s Financial Intelligence Unit (FIU), the assets of the accused individuals have been unfrozen as the investigating entity stated that it did not identify any assets or transactions linked…

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