Melbourne, Australia, Stolen Gold Trading Scheme – Selling Bullion

Man jailed over scheme to sell stolen jewellery as gold bullion


A Melbourne man has been jailed for his involvement in a stolen-gold trading scheme run by two jet-setting Colombian playboys.

Chey Tenenboim, 39, appeared in the County Court via video-link from prison on Wednesday and was sentenced to a year in jail after he bought stolen jewellery that was to be melted and resold as bullion.

In a deal with prosecutors, Tenenboim pleaded guilty in June to a single charge of receiving stolen goods that included 42 instances of buying looted valuables. Under the plea deal, he admitted paying $144,638 for the stolen gold.

County Court judge Scott Johns said Tenenboim was motivated by greed and a belief that his offending would not be exposed.

“You thought you could do it without getting caught so you did,” Judge Johns said.

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Jail awaits gold-buying playboy who paid hard cash for hot jewellery

A Colombian-born jetsetting gold buyer has been told to prepare for jail after he paid cash for jewellery and valuables that he knew were stolen.

Alejandro Mendieta Blanco, his older brother and another man ran a sophisticated gold-buying scheme where they paid cash for jewellery, watches and other items they knew were stolen and kept the transactions off the books of their legitimate business, Gold Buyers Melbourne.

The three men were initially charged with hundreds of offences but the cases were whittled down in a plea deal with prosecutors to a single charge each of receiving stolen goods.

Under the deal, Mendieta Blanco admitted in the County Court to buying $29,000 worth of jewellery in 2017, his brother Julio has pleaded guilty to buying $45,000 worth of jewellery and their employee, Chey Tenenboim, admitted paying out $144,638 for stolen goods.


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