A New Jersey Democrat’s residence was discovered to be containing more than$ 600,000 in gold bars and cash after being accused of accepting bribes and using his position as an elected official to serve the Egyptian government.
Sen. Bob Menendez ( D- NJ) and his family, Nadine Menendez were each ing-cash-gold-home-mortgage-payments/”>charged in September 2023, with three governmental matters of allegedly accepting money and using the president’s power and influence to “protect and expand” three New Jersey traders, and to “benefit the Arab Republic of Egypt”, according to the prosecution in , the New York Times.
The three gentlemen are Wael Hana, Fred Daibes, and Jose Uribe.
In January, Menendez was accused of accepting bribes from the Qatari royal household in exchange for expressing his admiration for Qatar. He was also accused of making further allegations in January. In exchange for making good comments about Qatar, Menendez was reportedly given useful items, including extravagance wristwatches.
According to NJ.com, trial jurors apparently circled plastic bags with gold plates inside on May 13.
Through photos taken during a search by Federal Bureau of Investigations ( FBI ) agents in June 2022, the jurors were also given a virtual tour of the couple’s home.
Gold plates were apparently stashed in various locations throughout the house, including in wardrobes, “designer bags” and” a pair of Forest shoes” , ,  , according to the store.
Aristotelis Kougemitros, an FBI agent,” called in forces” to help him count the cash and silver bars, according to the trial’s jurors. With the help of cash counting machines, FBI agents discovered that there were$ 486, 461 in cash and 13 gold bars, which are reported to be worth more than$ 150, 000.
” Over$ 480, 000 in money- much of it stuffed into envelopes and buried in attire, closets, and a secure- was discovered in the home, along with over$ 70, 000 in Nadine Menendez’s secure payment box”, the indictment says.
Menendez has pleaded not guilty to bribery allegations.
Frank Figliuzzi, a columnist for MSNBC and former FBI assistant director, wrote in an op-ed on Tuesday:
In the last three months, the price of gold has increased 15 %, partially as a result of worries about inflation but perhaps even more so because of worries about ongoing military conflicts and terrorism. Typically, you can buy gold bars from specialist dealers, in person or online. Although investment-grade gold bars come in a variety of sizes and weights, they must be at least 99.5 % pure gold. The bars are consiered safe-haven, low-risk investments that operate outside of any monetary system and are made by governments or private refineries. The price of gold is determined by the open market, and no central bank has any influence over the supply and demand. That makes gold a global commodity.
According to NJ.com, Daibes and Hana have also entered a not-guilty plea, while Uribe has reportedly confirmed helping Menendez’s wife purchase a Mercedes-Benz in order to obtain the senator’s assistance in” squashing an unrelated state criminal investigation involving his commercial interests.”
