Inspectors from the Saudi Ministry of Commerce, the Ministry of Manpower and Social Welfare and the Department of Zakat and Revenue have conducted a joint raid on the Riyadh Gold Market to uncover a secret warehouse of gold and silver jewelery and precious stones.
According to Al-Akhbariya Channel, the investigation teams of the three government agencies have discovered secret warehouses and corridors under the jewelery shops. It was also discovered that foreign employees were working in the jewelery shops and they were hidden during the investigation. The foreign workers were taken into custody and handed over to the security forces.
An Commerce Ministry inspector who was involved in the raid and videotaped the operation said shopkeepers were using secret warehouses and corridors to store illegal gold, silver and precious stones. Some other items may also be hidden in these warehouses. An investigation is underway.
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The Ministry of Commerce said the raid was aimed at curbing money laundering, commercial crime and foreign business activities in the name of the Saudis. The raid was also aimed at detecting suspicious activity. Vendors were reported missing a 10-year record of gold transactions, which they are obliged to preserve.
