An Italian Businessman Was Caught Trying To Sneak $2 Million In Gold Into Switzerland

gold bars

Photo: flickr/digitalmoneyworld

Expect more stories like this as things get darker in Europe.An Italian businessman and his daughter were caught heading to Switzerland with $2 million worth of gold in a hidden compartment in their car. Both have been charged with smuggling, according to Yahoo News.

Italians have been trying to move their wealth into safer countries. Their government, on the other hand, would like to retroactively tax that wealth (if countries like Switzerland will permit it). That said: Italian exports to that country have jumped 35% year-on-year, and much of that has been gold.   

Italian Prime Minister Mario Monti claimed that approximately $150 billion in Italian taxes were evaded in 2009, primarily from this type of tax evasion.   

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