Where is the gold?
The raid was audacious, but the operation to hide and process the hot bullion was cleverER STIL, and IT has left police guessing to this day
Detectives know where some of the gold went: through the smelters of Kenneth Noye and John Palmer, degraded with coins to hide its purity as it was melted down. Analysts suggest anyone wearing gold bought after 1983 probably have some traces of Brink’sMat gold in their jewellery.
The proceeds were spent on new ventures, such as housing developments in London and Spain and timeshare apartments in Tenerife, while some of the gangsters diversified from risky raiding into the newer criminal sectors, like cocaine and ecstasy. There were also investments in an American oil well and even Cheltenham Ladies’ College.
The gold was worth £ 26 million, but the canny gang members were able to invest it so that its value ballooned to around half a billion pounds, a stunning profit.
Still, today, up to 70 percent is yet to have been recovered, although there have been deals. Kenneth Noye handed back £ 3 million from the proceeds of Brink’s- Mat. Tony White, who was acquitted of his involvement in the heist, was ordered to pay £ 2.1 million in compensation to Brink’s- Mat’s insurers.