Two American businessman tried to leave Brazil with 77 pounds of gold in their luggage. The incident set off a legal battle that entangled an eccentric Austrian businessman previously accused of gold smuggling in Brazil.
Just after 9 p.m. on Jan. 24, 2020, two American businessmen walked toward a customs desk inside the airport in Manaus, Brazil, a bustling city on the edge of the Amazon rainforest.
Now, just months after they launched their venture, Bellino and Giannuzzi were striding through the Manaus airport with four canvas bags full of gold and their Brazilian partner at their side. The authorities seized the gold, and Nascimento was arrested on charges of trafficking in illicit goods and usurping raw materials that belong to the country.
The saga provides a window into the effort to fight the illegal gold rush in South America, where wildcat mining has ravaged the Amazon.Illicit gold is a prized commodity for drug cartels and other criminals who rely on it to launder money and conduct illegal business. Experts in the gold trade say the ease with which the New Yorkers obtained the 77 pounds of questionable gold underscores the challenges ofand enriches international criminal groups.
The hardest-hit tribespeople include the Yanomami in the northern Amazon along the Venezuelan border and the Munduruku in the Tapajós River region to the south. “He would have no interest in doing anything illegal,” read a police report statement summarizing Bellino’s interview.But experts said even the smallest bit of research would have revealed that gold procured in Manaus was likely to have come from illegal mining.
Officers were stationed outside the customs office, with orders to stop Bellino and Giannuzzi, when the two men showed up again for their flight home roughly 12 hours later, Livio said. In interviews with authorities at the time, Rydl said he had acquired more than 27 tons of gold since he arrived in Brazil in the early 1990s. The gold came from a variety of sources — recycled jewelry, electronics, mining — but he said he no longer had any paperwork proving its origin because it had deteriorated over time, according to a judge’s decision in the case.
His company, BAMC, bought $140 million worth of gold in 2022, up from $1 million in 2019, according to a review of tax data. The judges weren’t ruling on whether the gold was legal. Their decision focused largely on the question of whether Doromet was the proper owner. The judges also said that the gold had been in the possession of the government for almost a year and that there didn’t seem to be a compelling reason to hold on to it for any longer.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Far-right lawmakers walk out of Zelenskiy speech to Austrian parliamentLawmakers from the pro-Russia, far-right Freedom Party walked out of the lower house of Austria's parliament on Thursday during a speech by Ukrainian President Volodymyr Zelenskiy, protesting that it violated Austria's neutrality.
Read more »
Bolsonaro lands back in Brazil to lead right-wing oppositionBrazil's far-right former President Jair Bolsonaro returned from three months in the United States on Thursday and was welcomed back by hundreds of chanting supporters at the Brasilia airport before heading straight into meetings with his political party.
Read more »
Bolsonaro vows Lula's days are numbered as Brazil leaderJair Bolsonaro, who never formally conceded defeat in last year's presidential race, vows to lead opposition to Lula da Silva's government, raising stakes for new administration after a highly polarised election in the South American country.
Read more »
Brazil's revenue service launches electronic invoice for gold to curb illegal miningBrazil's Revenue Service on Thursday mandated electronic invoices for gold trade when bullion is declared as a financial asset or foreign exchange instrument, a rule aimed at curbing illegal wildcat mining.
Read more »
Brazil's Lula reschedules China trip, will meet Xi on April 14 in BeijingBrazil's President Luiz Inacio Lula da Silva will meet with Chinese President Xi Jinping on April 14 in Beijing, his office said on Friday, rescheduling a visit that was postponed last week after Lula was diagnosed with a mild pneumonia.
Read more »
Five Intriguing Athletics Headlines to Watch in 2023 MLB SeasonHere are five headlines to keep an eye on for the A's during the 2023 season.
Read more »