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Tov Hazel - Gold Safety Deposit Boxes - Theft - millions stolen

Martin Everson

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Makes you worried about keeping gold in any third party safety deposit box eek¤%&. Here we have what looks like an inside job. The owner allegedly stealing millions in gold from customers. This is same company that was selling deposit boxes where you could pay in advance for up to 5 years. I imagine many customers had paid for 5 years and parked gold and money there and have not returned. They are in for a surprise in some years time when they look to get gold/money from safety deposit box when they most need it :oops:.

https://nltimes.nl/2019/12/20/man-held-gold-bar-theft-worth-millions-released-still-investigation
---quote start

A person of interest arrested as part of an investigation into a massive amount of missing gold was released from custody, the Public Prosecution Service (OM) said. Gold bars worth millions of euros went missing earlier this year, which authorities revealed as they raided a safety deposit box business in the heart of Rotterdam.

The person who filed the criminal complaint “had ordered a gold trading company to trade their gold, and was told by that company that there was a problem. His gold was no longer present in the vault,” the OM explained.

The man who was detained is Ron S., director of Tov Hazel, a company with close ties to Safe Deposit Nederland in Rotterdam, according to newspaper AD. Sources told the newspaper it would have been very difficult for one person to take the gold on their own due to security features at the vault. Another source said that S. himself may have had the most inside knowledge of the security features at the location.

The 61-year-old man is still considered a subject of interest for the case's detectives, the OM said. Another suspect was also detained, brought in by police during a search of several properties around the country.

That person was also released, the OM said. It was not clear if they were still suspected of wrongdoing.


---- end quote
 
I imagine most people who had gold stolen won't be filing an insurance claim or going to police to quickly ns2.
 
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Maybe these Gold bars are legit and someone will go to the police, anyway, since it is in the news someone will going hunt.
 
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Maybe these Gold bars are legit and someone will go to the police, anyway, since it is in the news someone will going hunt.

Seems someone did...lol:

The person who filed the criminal complaint “had ordered a gold trading company to trade their gold, and was told by that company that there was a problem. His gold was no longer present in the vault,” the OM explained.

Imagine that happens at Bullionvault or goldmoney etc...lol. Now your stuck having to read through the clauses in your insurance document they gave you to see if it covers staff theft :confused:.
 
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I don´t want to know his client base in Rotterdam. I think this guy will be on a run for his life.
But who would trust a safety deposit box in rotterdam , one of the most shady city in Europe full of international mafia.
Hm... Rotterdam a shady city? ash&/And full of international maffia as well! cry&¤That's a surprise for me after living here half my life. Nah... It ain't that bad. You mix-up Rotterdam with Amsterdam I guess. Or London, or Paris or Madrid, Milano, Tyrana, New York...

By the way, the storage facility is/was a registered company that complied with all r & r's the city and country enforced on them. They were legit, but you're right at the owner, he's a f*ckhead that will forever have to look over his shoulder when taking a piss. (As he should)
 
Simple rules when storing PMs in private vaults:

1) Choose a very stable country with a strong rule of law.

2) Choose a county where honesty and privacy is ingrained into the culture itself.

3) Choose a country that has a history of punishing those in the financial industry who steal and, just as importantly, who ruin the reputation of the nation as a financial center.

4) Choose a stand-alone private vault that offers storage only. Do not choose a company that buys and sells PMs and offers vault storage as a secondary service. Every theft of PMs that I ever read about involved a PM trading company that offered storage in its own vault for its customers. Too much temptation. If your jurisdiction meets criteria #1 through #3, however, then you can likely ignore #4. Otherwise, #4 is absolutely essential.

5) Ensure that the vault is insured against employee theft and inside jobs, which are most of these types of thefts.

IMO, Switzerland, Liechtenstein, and Singapore meet criteria #1 through #3. Maybe the Cayman Islands and a few other jurisdictions. Perhaps diversify and hold gold in a vault in one country and your silver in a vault in another one.
 
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Every country is full of Bad and Shady People . You have to take care yourself .
Do so much research read about rules and regulation , Imagine Worst Case scenario than Move.
It will the best solution to avoid these type of things.

Anything regarding Gold , Only trust government Own mint .
Saving Few bucks Cost you Fortune.
 
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