The ‘cash for gold’ trade that has been growing on the streets of Kingston, Spanish Town and Portmore is being run by gang bosses who use the money earned from selling the bright yellow element abroad to finance their criminal activities, the police have said.

“The matter is in fact a subject of discussion right now and we are doing everything to bring the situation under control,” said Karl Angell, the police force’s director of communication. “Senior investigators are presently looking into the situation and we are waiting on our legal team to advise us.”

Police say gang leaders give large sums of money to members who can be seen on the streets of Spanish Town, Portmore and Kingston, either driving around with loud speakers blasting music from their vehicles, or walking from house to house in a bid to gather as much gold as they can.

The gold is then sent to smelters in New York, Los Angeles and California, which pay large sums of US dollars for the items.

Yesterday, when Chat! visited Half-Way-Tree in Kingston, this reporter was approached by a man brandishing a business card, offering to buy gold and claiming that he was from a reputable company which operates out of Spanish Town. He said the gold — purchased at $12,000 per ounce — is taken back to this company, which then melts it to make new jewellery.

However, when Chat! made further checks, it was revealed that the gold is sent overseas and paid for in US dollars.

Earlier this week, Glenmore Hinds, acting deputy commissioner of police in charge of operations, said the fine imposed on persons found guilty of trading gold without a licence is not enough to act as a deterrent.

“The punitive fine is $20, so we are trying to find ways to get around it,” Hinds explained.

Meanwhile, police from the Spanish Town CIB said there has been an increase in house break-ins in a number of communities in and around Spanish Town due to the increasing demand for gold.

“Based on what is going missing, we are left to believe that this is as a result of the ‘cash for gold’ that has become so popular,” said one constable. “We are even hearing about a number of chains being picked as persons seek to cash in on the deal.”

-Donna Hussey-Whyte

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