Sen. Bob Menendez’s Home Found with over $480K Cash, $150K of Gold Bars

The home of a New Jersey Democrat, who has been accused of accepting bribes and using his power as an elected official to benefit the Egyptian government, was searched and discovered to be holding more than $600,000 in cash and gold bars.

Sen. Bob Menendez (D-NJ) and his wife, Nadine Menendez were each charged in September 2023, with three federal counts of allegedly accepting bribes and using the senator’s power and influence to “protect and enrich” three New Jersey businessmen, and to “benefit the Arab Republic of Egypt,” according to the indictment in the New York Times.

The three men are Wael Hana, Fred Daibes, and Jose Uribe.

Menendez was slapped with additional allegations in January, being accused of having accepted bribes from the Qatari royal family in exchange for speaking highly about Qatar. In exchange for making positive comments about Qatar, Menendez was allegedly given valuable items, including luxury wristwatches.

Jurors involved in the trial, which began on May 13, reportedly passed around plastic bags with gold bars inside, according to NJ.com.

The jurors were also provided with a virtual tour of the couple’s home through pictures that were taken when agents from the Federal Bureau of Investigations (FBI) conducted a search in June 2022.

Gold bars were reportedly stashed in various places throughout the home, including in closets, “designer bags” and “a pair of Timberland boots,”  according to the outlet.

FBI Special Agent Aristotelis Kougemitros informed the jury during the trial that he “called in reinforcements” to assist him in counting the cash and gold bars. With the help of cash counting machines, FBI agents discovered that there were $486,461 in cash and 13 gold bars, which are reported to be worth more than $150,000.

“Over $480,000 in cash-much of it stuffed into envelopes and hidden in clothing, closets, and a safe-was discovered in the home, along with over $70,000 in Nadine Menendez’s safe deposit box,” the indictment says.

Menendez has pleaded not guilty to bribery allegations.

MSNBC columnist and former assistant director for counterintelligence at the FBI Frank Figliuzzi wrote in an op-ed on Tuesday:

The price of gold has risen 15% in the last three months, partly driven by inflation concerns, but perhaps even more by fears about ongoing military conflicts and terrorism. Typically, you can buy gold bars from specialist dealers, in person or online. Investment grade gold bars come in varying sizes and weights but must be at least 99.5% pure gold. The bars are made by governments or private refineries and are consiered safe-haven, low-risk investments that operate outside of any monetary system. No central bank controls the supply and demand of gold, and the price is set by the open market. That makes gold a commodity without borders.

Daibes and Hana have also pleaded not guilty, while Uribe has reportedly confirmed assisting Menendez’s wife in buying a Mercedes-Benz in order to get the New Jersey senator’s help in “squashing an unrelated state criminal investigation involving his commercial interests,” according to NJ.com.