In a powerful revelation, social media influencer Adaobi Amadi has shed light on the issue of money laundering through the purchase and exchange of precious metals and gems. This comes after watching a clip of Toke Makinwa’s podcast interview with Bobrisky, where the cross-dresser claimed that the total amount of the jewelry he was wearing was 7,950,000 naira.
According to Amadi, when criminals obtain money from illegal sources such as drug smuggling, fraud, human trafficking, embezzlement, corruption, or other unlawful activities, they have to find a way to “clean” the dirty money and make it look legitimate. One of the methods they use is to buy expensive jewelry, diamonds, or precious metals, which can be sold later to convert the dirty money to clean money.
Amadi further explains that precious metals and gems have been used in money laundering for a long time due to their high value, portability, and ease of conversion into cash or other assets. Criminals can easily smuggle these precious metals and gems across borders without detection and sell them for cash, thereby effectively “laundering” the proceeds of crime.
