Kin Thiri Thet Mon, daughter of junta leader Min Aung Hlaing, involved in attempt to illegally sell 490 viss of gold worth $48 million

Ayeyarwaddy Times July 17 Justice For Myanmar (JFM) announced today, July 17, that a junta network involving Kin Thiri Thet Mon, daughter of coup leader Min Aung Hlaing, attempted to illegally sell approximately 490 viss of gold, valued at US$48 million, a few months after the military's illegitimate seizure of power. The plan to launder the gold was led by Kin Thiri Thet Mon and aimed to sell and launder it through Thailand, Laos, and Hong Kong, but the plan was unsuccessful, according to JFM's report. According to JFM's statement, a network connected to the interim government's military junta engaged in draft contracts, letters of intent, and personal communications to illegally sell 800 kilograms (approximately 490 viss) of gold, valued at approximately US$48 million. The gold sale was planned to be sold to a subsidiary of AIF Group, a major Lao economic conglomerate, and payment was intended to be partially processed through BIC Bank Lao, a state-owned enterprise in Laos. However, due to disagreements over financial guarantees and the implementation plan of the transaction stages, the gold sale plan was canceled in mid-2021. Furthermore, references were made by Tun Min Lat, a close associate of the interim President Min Aung Hlaing's family and an arms dealer, along with his business partner, Thai MP Upakit Pacharinayankun, acting as intermediaries, suggesting that 200 kilograms (approximately 122 viss) of gold had already been sold. However, Justice For Myanmar has not yet been able to independently confirm whether these gold transfers actually took place. JFM warned that although this gold laundering scheme was unsuccessful, the risks of transnational criminal activities continue to exist among the interim government's military leaders, junta members, their family members, and cronies. Before the military coup in the country, the price of gold was around 1.3 million kyats per tical, but after the coup, prices have been rising sharply along with the economic crisis, and it is understood from the gold market that the domestic gold price has now reached a record high of 9.6 million kyats per tical. Photo – JFM / Social Media The post Kin Thiri Thet Mon, daughter of junta leader Min Aung Hlaing, involved in attempt to illegally sell 490 viss of gold worth $48 million appeared first on Ayeyarwaddy Times.