In a stunning revelation during Senator Bob Menendez's federal bribery trial, new photos presented in court on Thursday showcased over $600,000 in cash and gold bars discovered during an FBI raid on the New Jersey Democrat's Englewood Cliffs home in June 2022. The images, shown to jurors in Manhattan federal court, depict a cluttered residence with gold bars of varying sizes and conditions, some wrapped in clear plastic packaging, while others bear the marks of age and use.
Special Agent Aristotelis Kougemitros, who led the raid on the home shared by Menendez and his wife, Nadine, testified that agents found 13 gold bars worth $150,000 and over $480,000 in cash hidden in closets, jacket pockets, and designer bags. The sheer volume of money necessitated the use of two cash-counting machines from the FBI's Manhattan office to accurately tally the $486,461 in bills.
Menendez and his wife face numerous corruption and bribery charges for allegedly accepting the gold, cash, a Mercedes convertible, and other luxury gifts in exchange for the senator using his office to grant favors to the governments of Egypt and Qatar, as well as three New Jersey businessmen - Wael Hana, Fred Daibes, and Jose Uribe. Hana and Daibes are currently on trial alongside Menendez, while Uribe has pleaded guilty and is cooperating with federal authorities.
The senator's defense team attempted to shift blame to Nadine, claiming she inherited the gold bars from her Lebanese family and that Menendez was unaware of their presence in the home. Attorney Avi Weitzman argued that collecting gold was part of Nadine's family culture, often given as gifts during christenings and baby namings. Similarly, Weitzman attributed Menendez's habit of withdrawing and keeping cash at home to generational trauma stemming from his Cuban refugee family's experiences.
This is a one-kilogram gold bar that was found in the home of United States Senator Bob Menendez during a raid by federal agents.
The trial has also delved into the alleged corrupt relationship between the Menendezes and Wael Hana. John Moldovan, general counsel for Hana's halal company, testified that Hana helped save Nadine's home from foreclosure by providing money for a mortgage payment, which he asked Moldovan to disguise as a loan rather than a gift. In return, prosecutors allege that Menendez took actions to help Hana's company secure a monopoly with Egypt, requiring all meat from the country to the US to be certified by Hana's business.
The presence of gold bars in the Menendez case has drawn attention to the broader phenomenon of gold as a safe-haven investment and its potential for use in criminal activities. Gold bars are considered low-risk investments that operate outside of any monetary system, with prices set by the open market. The difficulty in tracing gold transactions, particularly when purchased from private sellers with cash, has made it an attractive asset for those seeking to conceal wealth or engage in illicit activities.
