The Jordan Harbinger Show 450: Frank Maderal | The Dirty Money Behind Illicit Gold Smuggling
Dec 22, 2020
Frank Maderal, a litigator featured on Netflix's Dirty Money, dives into the shadowy world of illicit gold smuggling. He reveals why gold is a magnet for criminal enterprises and discusses its devastating impact on the environment and communities. Maderal breaks down money laundering techniques and the challenges law enforcement faces in tracking this dirty money. He explains how even legitimate gold traders can inadvertently get involved in illegal activities, painting a grim picture of the gold trade's ethical complexities.
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Narcos Diversifying into Gold
- Drug dealers diversify into gold, using profits to buy mines and launder money.
- Selling this gold makes the money appear clean, as the source is attributed to mining.
Gold Laundering Process
- Frank Maderal explains a money laundering scenario using gold.
- A drug dealer buys gold with drug money, sells it to a refinery, and receives clean money via wire transfer.
Transporting Gold
- Transporting gold is less suspicious than cash; declaring gold at customs is legal.
- There's no limit on gold imports to the US if declared, making it an attractive laundering medium.