{"id":15271,"date":"2014-03-01T12:23:36","date_gmt":"2014-03-01T11:23:36","guid":{"rendered":"http:\/\/www.w-t-w.org\/en\/?p=15271"},"modified":"2014-03-01T15:56:15","modified_gmt":"2014-03-01T14:56:15","slug":"kaloti-case-lifts-curtain-on-dubai-gold-trade","status":"publish","type":"post","link":"https:\/\/www.w-t-w.org\/en\/kaloti-case-lifts-curtain-on-dubai-gold-trade\/","title":{"rendered":"Kaloti Case Lifts Curtain On Dubai Gold Trade"},"content":{"rendered":"

Why Dubai\u2019s first conflict gold audit never saw the light of day\"Global<\/p>\n

Our correspondent Andreas Frank points out. Dubai has long had a reputation as a destination for African gold tainted by conflict and a hub for smuggling through the Middle East and Asia. A report by Global Witness provides a rare glimpse into how the city\u2019s bustling gold trade works \u2013 and how local regulators and auditors allegedly tried to cover up at least one instance where supply-chain due diligence was lacking.<\/p>\n

At the center of the report, based on documents handed to Global Witness<\/a> by an Ernst & Young whistleblower, lies a gold refiner called Kaloti Jewellery Group. The company is run by the Jordanian Kaloti family, who have a refinery near Dubai and are building another capable of processing up to 2,000 tons of gold and silver a year, making it the largest such facility in the world.<\/p>\n

Gold trading and refining seem to pose a high money laundering risk. On November 4, 2013 a Swiss gold refiner was accused of money laundering
\nKaloti case lifts curtain on Dubai Gold Trade<\/strong><\/a>
\nCity of Gold<\/strong>\u00a0<\/a> <\/strong>Why Dubai\u2019s first conflict gold audit never saw the light of day
\nDokuments<\/a><\/strong><\/p>\n

\"Worlds<\/a>Kaloti suffers reputation damage<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Why Dubai\u2019s first conflict gold audit never saw the light of day Our correspondent Andreas Frank points out. Dubai has long had a reputation as a destination for African gold tainted by conflict and a hub for smuggling through the … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[22,13],"tags":[],"class_list":["post-15271","post","type-post","status-publish","format-standard","hentry","category-corruption","category-finance"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t