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For Immediate Release

May 09, 2011 Lynzey Donahue (202) 307-9075

Bob Sheehan, Gaston & Sheehan Auctioneers
(512) 617-7788 
U.S. Marshals to Sell Nearly Five Tons of Bulk Gold and Silver Jewelry

Washington – Nearly five tons of bulk gold and silver jewelry, valued at approximately $50 million, will be sold via sealed bid by the U.S. Marshals May 17. The bulk lot of jewelry consists of more than 40,000 troy ounces of mixed-karat gold jewelry and more than 100,000 troy ounces of silver jewelry.

Registration for the auction is open until Friday and requires a $100,000 refundable deposit. Previews of the bulk lot will take place in Texas on Tuesday, Wednesday and Thursday, by appointment only, for registered bidders.

Sealed bids for the bulk lot can be submitted by e-mail, mail or courier and are due no later than 2 p.m. EDT on May 17. The catalog, terms and conditions, and registration form can be found online at

The jewelry was seized as the result of a money-laundering investigation by the Drug Enforcement Administration in 2000 that identified two Panama companies that were laundering narcotics proceeds from the United States. Yardena Hebroni and Eliahu Mizrani were charged with laundering millions of dollars in narcotics proceeds through a wholesale jewelry business, Speed Joyeros S.A., and a related company, Argento Vivo S.A., which together did more than $100 million in business annually. According to evidence presented in the case, the money-laundering conspiracy included coordinating and receiving drug proceeds from the United States through cash pick-ups, wire transfers, cashier’s checks and third-party bank checks. Hebroni and both companies pleaded guilty to money laundering in the Eastern District of New York. Mizrahi, who had been a fugitive, later pleaded guilty to money laundering and was sentenced in February 2008.

The proceeds from the jewelry sale will be placed into the Department of Justice’s Assets Forfeiture Fund, which is used to compensate victims, supplement funding for law enforcement initiatives and support community programs.

Gold Gold

Gold Bars


For more information on the sale, go to

The U.S. Marshals Service is responsible for managing and selling seized and forfeited properties acquired by federal criminals through illegal activities. Proceeds generated from asset sales are used to compensate victims, supplement funding for law enforcement initiatives and support community programs.


Additional information about the U.S. Marshals can be found at


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