The military council-controlled media announced on June 2 that 21 gold shop owners and brokers were arrested and investigated for destabilizing the price of gold in the domestic gold market.
It has been announced that they have been arrested and investigated because they are trading gold at inflated gold prices through social networking sites to destabilize the price in the domestic gold market.
According to those who were arrested and interrogated, Aung Samadhi Gold Shop, Academy Gold Refinery Zealot Gold Shop Win Sein Shwe Sai said that the military council is working to arrest 10 gold entrepreneurs, including the owners.
At the end of May, the price of bark gold in the domestic gold market reached 5900,000 kyats.
There are also reports from the gold industry community that the people who were arrested by the military council are famous gold shop owners, and because they are on the run, their businesses are closed.
Although RFA has been contacting the gold companies that have been issued arrest warrants by the War Council, they have not been contacted. RFA has not yet been able to independently confirm the business closures. Regarding the news of the gold shop owners being arrested and interrogated, the Yangon Region Gold Manufacturers Association was contacted by telephone and told that they were not allowed to answer.
The military council has also announced to inform the relevant organizations to arrest the gold entrepreneurs who have been issued arrest warrants. In addition, he said that the 21 people arrested will be dealt with effectively in accordance with the law.
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