After getting home from an unofficial-turned-sanctioned trip to Egypt in October 2021, New Jersey Sen. Bob Menendez searched on Google: “how much is one kilo of gold worth.”
He had some gold bars laying around, according to an indictment prosecutors unveiled on Friday alleging he took them as bribes from New Jersey businesspeople in a scheme that aided the Egyptian government.
It turns out, one kilogram of gold was worth approximately $56,700 at the time, according to historical spot price records. Maybe it was too low.
Then, around Jan. 29, 2022, Menendez looked on Google again. He would have found that the number had risen slightly to about $58,000. Maybe it was still too low.
On March 31, 2022, his wife Nadine sold two of those 1 kg gold bars in Manhattan. At that time, market prices suggest she probably would have pulled in around a cool $120,000; the spot price of gold at the time had risen to about $62,000 per kilogram.
And if Menendez made the same search Friday, he would find out that the price of gold was about $61,908. So, maybe he sold at just the right time.
The gold bars are just part of the biggest scandal yet for the 69-year-old politician, who has dodged numerous controversies in his career.
In the indictment, prosecutors put on display pictures of the gold and cash they discovered at his home during a June 2022 court-authorized search. Those gifts, alongside home furniture and a Mercedes-Benz convertible that prosecutors say the businesspeople gifted her after she got in a car accident, are some of the eye-popping details that emerged from a juicy indictment prosecutors unveiled on Friday.
For nearly five years, the senator has sat atop the Senate Foreign Relations Committee, giving him unique power over the country’s relationship with foreign countries. Prosecutors charge that he has intervened in American engagement with Egypt, while also disrupting the federal prosecution of one of the businesspeople he is allegedly entangled with.
The Menendezes and the other businesspeople charged are set to appear in a Manhattan courtroom on Wednesday.
On Friday afternoon, gold spot prices were slightly up over the course of the day.