Film / In production · 2026-2027

Illicit Gold

The rush to cash in on the criminal shadows of El Dorado

Illicit Gold title card
Colombia · Brazil · Switzerland · 2026-2027In production
The investigation

Follow the trail.

Gold has never been worth more, and almost none of it has to say where it came from. In the Amazon, that gap has become an industry. We follow a single trade from the mud it comes out of to the wedding ring it ends up on: the garimpeiro who mixes mercury with his bare hands and eats fish from the river he poisons, the armed groups who don't dig but sell the diesel and collect the tax, the airstrip no inspector visits, and the furnace where the crime quietly ends and a commodity begins.

Because that's the part nobody talks about. Once gold is refined, no routine assay can establish where it was mined. Once it's melted, everyone's gold is the same gold, and every person who handles it afterward is telling the truth. We trace what that buys: a cartel the United States calls a terrorist organization, a state that launders through its own central bank, a shipment of Iranian oil, a payment to Hezbollah, a coin sold by the U.S. Mint with an eagle stamped on it. And in a field in Colombia, we find a man with a gamma-ray detector pulling land mines out of a farm, because gold routes are worth protecting with explosives.

This isn't a story about gold. It's about what happens when a crime becomes a commodity, and who pays for it.

An investigation by
ICAIE + RADOC
Executive producers
David M. Luna · Sam Rad
Production
An Illicit Shadows Production
On camera
Sam Rad
By the numbers

$12 to $48 billion a year

estimated value of illegal gold mining

IISS · 2026-06 · source

About 80%

of Amazon mining presumed illegal

IISS · 2026-09 · source

About 70%

of the world's gold refined in Switzerland

University of Miami International & Comparative Law Review · 2024 · source

Under 2%

of shipping containers ever inspected

OECD · 2025 · source

34x

the safe mercury level for a pregnant woman, in Amazon river fish

JGGA / JG Global Advisory · 2026 · source

Under $300 to $5,600+

gold per ounce, 2000 to early 2026

IISS · 2026-06 · source

Sources for this investigation
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