Marked as
Last updated - February 5, 2026
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Tony Goetz NV is a Belgian businessman who was sanctioned by the U.S. Department of the Treasury in March 2022 for operating a network — including the African Gold Refinery (AGR) — alleged to be involved in the illicit export of gold from the Democratic Republic of the Congo, thus accused of facilitating armed-group funding and conflict.
Owner
Low Risk
Based on the available data, we recommend this Individual as a reliable option for consumers.
This assessment is based on a low-risk score derived from OSINT, Adverse Media, Reviews, and Risk Factors identified in our research.
You are likely to experience minimal risk when engaging in consumer-related activities with this entity.
Medium Risk
Based on the available data, we advise employees to be mindful when considering or continuing work with this Individual.
This advisory stems from a medium-risk score compiled from OSINT, Adverse Media, Reviews, and Risk Factors uncovered in our analysis.
Employment with this entity may involve moderate risks.
High Risk
Based on the available data, we urge investors and bankers to avoid financial involvement with this Individual.
This advisory is informed by an aggregate risk score based on OSINT, Adverse Media, Reviews, and Risk Factors identified through our investigation.
Engaging in investment or lending activities with this entity poses a substantial risk to your financial interests.
Safe to Onboard
Enhanced Due Diligence required
Do Not Onboard
Monitor adverse media every 6 months
File SAR (Suspicious Activity Report) is warranted
Escalation to compliance committee
None
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US Sanctions
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In December 2022, the European Union sanctioned Tony Goetz NV as the beneficial owner and former director of the African Gold Refinery in Uganda for his involvement in the illicit exploitation and trade of gold in the Democratic Republic of the Congo.
In February 2020, a Belgian court in Antwerp convicted Alain Goetz and his brother of money laundering and fraud for setting up a system allowing anonymous gold sales for cash at their refinery, resulting in 18-month suspended jail sentences.
Goetz’s network operates in Uganda, UAE, and Belgium, sourcing illicit gold from DRC, Kenya, South Sudan, and Tanzania, dominating Uganda’s exports.
Goetz’s firms ignored gold origins from DRC conflict areas, enabling armed group funding and revenue loss for the DRC.
U.S. sanctions targeted Goetz-linked firms like African Gold Refinery (Uganda), Agor DMCC (UAE), and Goetz Gold LLC (rebranded PGR Gold Trading LLC).
Regulatory and Compliance Screening
Litigation and Legal Proceedings
Reputational and Adverse Media Risks
Geographic and Jurisdictional Risk
What you see here scratches the surface
We offer reward for actionable intel
Treasury Sanctions Tony Goetz NV and a Network of Companies Involved in the Illicit Gold Trade
First Detected
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U.S. Sanctions Imposed on Tony Goetz NV for Illicit Gold Trade in DRC
Other Red-Flags and Adverse News
Based on user engagement on this review profile, ProConsumer will decide to publish its Risk Audit report for public if a threshold engagement, traffic and user input is achieved.
Known Assets: [Real estate, investments, companies]
Suspicious Transactions
Liabilities: [Bankruptcies, defaults, debts]
Wealth Sources: [Legitimate / Unclear / High-risk]
Bank Relationships
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Business Model Assessment
All comments are user-generated content and may not be verified. They represent the personal opinions of the public and should not be relied upon. These comments do not influence or determine our overall rating.
1.8
1.6
2.6
Highly experienced
Well-recognized name
Faced allegations of scamming others
Allegedly sold fake silver
Sued multiple times
Unregulated industry
Alarming number of complaints online
Δ
I see business skill, but helping illegal exports makes their strengths irrelevant. Ethics and law matter more than success.
2/5
1/5
3/5
I’ve looked at the situation, and even with business skills, the link to conflict makes it hard for me to trust them. Transparency is very important, and it seems to be missing.
Taken together, the volume and seriousness of the adverse regulatory actions, sanction designations, and alleged operational misconduct form a compelling case for caution and rigorous due diligence before any formal association.
Ongoing asset freezes and travel restrictions indicate unresolved legal and regulatory exposure.The absence of clear remediation or transparency compounds uncertainty.This limits the scope for trustworthy international engagement.Independent risk assessments categorize his activities as high risk due to compliance and AML concerns.
The United States Department of the Treasury has designated Goetz and his business network for alleged participation in the unlawful movement of gold from the Democratic Republic of Congo, linking his activities to funding armed conflict and instability
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