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Police Bust Gold Smuggling Ring, recover €64 Million in Ukrainian Gold Artifacts

The Spanish police and the Ukrainian Security Service seized ancient gold artifacts valued at 60 million euros ($63.6 million) taken from Ukraine after thieves were caught trying to sell them in Madrid.

According to the police, the 11 items, primarily jewellery like intricate necklaces, bracelets, and earrings, date to the Greco-Scythian era between the eighth and fourth centuries BC.

The items were displayed in a museum in Kyiv between 2009 and 2013, and they were taken illegally out of the country in 2016, according to a statement from the Madrid National Police.

Authorities learned that a Ukrainian resident in Madrid was attempting to sell historically significant gold jewellery from Ukraine, and this information provided the first leads for the operation. The sale of these items through official channels, like auction houses, was not permitted.

The investigation was carried out with the assistance of several countries’ Interior Attache offices, including Bulgaria, Ukraine, Albania, North Macedonia, and Cyprus, as well as the International Cooperation Division.

The artifacts had forged documents to make it look as if they belonged to the Ukrainian Orthodox Church, police said.

Authorities confirmed the arrest of three Spanish and two Ukrainian nationals on money laundering charges, and they recently announced the seizure of an additional ten pieces of gold that resemble the belt recovered in 2021.

All of the confiscated items, which can be traced back to the Greco-Scythian culture spanning the 8th to 4th centuries BC, are currently undergoing examination at the National Archaeological Museum and Spain’s Institute of Cultural Heritage. The investigation into this extraordinary case is ongoing.

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