Dutch locations searched in German probe into alleged €200 million gold-smuggling scheme

Solid gold bars stored in a black case. 2021 - Credit: - License: Unsplash Crime Thursday, 8 October 2026 - 06:30

German authorities suspect a criminal gang of smuggling gold on a large scale as part of a money-laundering operation. Three suspects were arrested on Wednesday, while more than 20 people are under investigation. Searches were carried out at locations near Rotterdam and in Friesland, as well as at around 40 sites across Germany.

German prosecutors believe the gang smuggled between 100 and 400 kilograms of gold over a six-year period, with an estimated value of between 55 million euros and more than 200 million euros.

Investigators suspect an “underground banker” from the Rotterdam area was involved in laundering the proceeds. Underground banking refers to informal, unregulated financial networks that transfer money across borders outside the traditional banking system. A 45-year-old man from Übach-Palenberg, near the Dutch-German border and just across from Landgraaf in Limburg, allegedly played a central role in the gold-smuggling operation.

The investigation began in October 2023, when German traffic police stopped a car on a Bavarian highway near the Austrian border. Officers found 55 kilograms of gold and nearly 500,000 euros in cash hidden in the vehicle and arrested the driver and a passenger. Police later seized about five kilograms of jewelry in Cologne from other people suspected of being part of the group.

German prosecutors say drug traffickers gave their criminal proceeds to the gang for laundering. The group allegedly used the money to purchase gold jewelry from cooperating jewelers before melting the gold down into bars. The bars were then transported to Turkey by road and air, where they were reportedly made into jewelry again and sent back to the jewelers involved in the scheme.

Reporting by ANP and NL Times