The home of a New Jersey Democrat, accused of accepting bribes and leveraging his power as an elected official to benefit the Egyptian government, was found to house over $600,000 in cash and gold bars.
The three individuals involved are Wael Hana, Fred Daibes, and Jose Uribe.
During the trial that began on May 13, jurors reportedly examined plastic bags filled with gold bars, according to NJ.com.
The jurors were also given a virtual tour of the couple’s residence through photos taken when FBI agents conducted a search in June 2022.
Gold bars were allegedly hidden in various locations in the home, including closets, “designer bags,” and “a pair of Timberland boots,” the outlet reported.
“Over $480,000 in cash—much of it stuffed into envelopes and hidden in clothing, closets, and a safe—was discovered in the home, along with over $70,000 in Nadine Menendez’s safe deposit box,” the indictment states.
Menendez has pleaded not guilty to the bribery charges.
MSNBC columnist and former assistant director for counterintelligence at the FBI Frank Figliuzzi wrote in an op-ed on Tuesday:
The price of gold has risen 15% in the last three months, partly driven by inflation concerns, but perhaps even more by fears about ongoing military conflicts and terrorism. Typically, you can buy gold bars from specialist dealers, in person or online. Investment grade gold bars come in varying sizes and weights but must be at least 99.5% pure gold. The bars are made by governments or private refineries and are considered safe-haven, low-risk investments that operate outside of any monetary system. No central bank controls the supply and demand of gold, and the price is set by the open market. That makes gold a commodity without borders.
Daibes and Hana have also pleaded not guilty, while Uribe has reportedly admitted to assisting Menendez’s wife in purchasing a Mercedes-Benz to gain the New Jersey senator’s help in “squashing an unrelated state criminal investigation involving his commercial interests,” according to NJ.com.
