Gold Disappears from Paris-Zurich Flight

By Paul Ausick Updated Apr 27, 10:21PM EDT · Published Sep 24, 3:40PM EDT

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Gold bars

French officials revealed on Tuesday that $2 million in gold bars disappeared from an Air France passenger plane after the gold had been loaded on the plane for a flight to Zurich. The gold bars weighing approximately 161 pounds appear to have been stolen before the plane left Paris on a flight for Zurich operated by Air France budget carrier Hop!.

U.S. security firm The Brink’s Co. (NYSE: BCO) said it delivered the gold to the plane and that “the parcels weren’t under [Brink’s] responsibility when they disappeared.” Investigators have not ruled out the possibility that the gold disappeared once the plane landed in Zurich.

Last June a plane from Switzerland to New York with a delivery of cash for the U.S. Federal Reserve Bank of New York arrived with $1.2 million missing from a scheduled delivery of $93 million.

Air France has claimed it was the victim of the gold theft and has filed a complaint with French authorities, according to The Wall Street Journal. An airlines spokesman said the gold shipments are insured but gave no additional details.

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About the Author Paul Ausick →

Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.

He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.