Gold Bars Seized From Menendez Reported Stolen In 2013

According to a report published Monday by NBC News, four of the gold bars recently seized from the home of Sen. Bob Menendez (D-NJ) as part of the criminal investigation into his alleged bribery activities are directly connected to a 2013 armed robbery. 

The bars were identified as part of the property stolen in a 2013 robbery of businessman Fred Daibes. He asked police to recover 22 gold bars and $500,000 in cash that he said was stolen from him during the robbery. He also provided police with the serial numbers stamped on the bars. He told police, “Each gold bar has its own serial number. They’re all stamped, you’ll never see two stamped the same way”​​.

The shocking discovery adds new complexity to an already-convoluted case in which Menendez is facing multiple federal felony corruption-related charges. The charges include conspiracy to act as a foreign agent of the Egyptian government, fraud, bribery and extortion. 

The story has taken a stunning turn, as Daines — the victim in the 2013 armed robbery — is an alleged co-conspirator with Menendez in the current criminal case. 

The indictment claims that Menendez and his wife agreed to accept hundreds of thousands of dollars in illegal bribes from Daibes and two other New Jersey businessmen in exchange for political favors and protection.

Court documents show the government alleges: “Those bribes included cash, gold, payments toward a home mortgage, compensation for a low-or-no-show job, a luxury vehicle, and other things of value.”

The indictment also alleges that in March 2022, Daibes gave Menendez’s wife two one-kilogram gold bars. At that time, gold was valued at around $60,000 per kilogram.

When FBI agents raided the Menendez home pursuant to a search warrant, they seized several gold bars worth more than $100,00 and nearly $566,000 in cash, “much of it stuffed into envelopes and hidden in clothing, closets, and a safe.”

Menendez has proclaimed his innocence and has repeatedly refused to resign from the Senate, even though several of his fellow Democrats have called on him to do so. He faces up to 45 years in federal prison if convicted on all the charges.

The New Jersey senator was previously indicted based on allegations of an unrelated bribery scheme in which he accepted expensive gifts and significant campaign contributions from a Florida physician in exchange for a promise to pressure government officials.

On Monday, NBC legal analyst Danny Cevallos said, “All of this spells bad news for Sen. Menendez because the chain of custody — it appears — is going to be really easy to prove up.”