With unregulated gold businesses growing fast in Greece during a crushing economic crisis as people pawn their goods, a police crackdown has netted a German man who was been charged with trying to smuggle hundreds of pounds of gold and silver out of the country.
Investigators said the man tried to send 425 kilograms (940 pounds) of silver to Germany using a cargo flight from Athens Airport on April 11 and that says authorities also confiscated 7.2 kilograms of gold and nearly 300,000 euros ($393,000) in cash in his possession. He was charged with smuggling and money-laundering.
Airport staff briefed the Financial Crimes Squad (SDOE) which sent out inspectors to check a business address in Athens. The man was reportedly trying to ship the precious metals to Germany.
Greece has been surviving on international bailouts funds since its economy imploded in 2010. Pawn shops — often illegal — have mushroomed, offering cash for gold and silver jewelry as the country fights a deep recession and record joblessness.
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