YANGON: Authorities in Myanmar have arrested three gold dealers for violating industry regulations, the state-owned daily Myanma Alinn reported on Friday (Feb 6).
The arrested individuals are the chairman, vice chairman, and secretary of the Yangon Region Precious Metal (Gold) Dealers Association, the report said.
According to the report, the dealers stored and purchased gold at prices above the daily reference prices set by the Mineral (Gold) Reference Price Determination Committee.
Their actions, which were allegedly intended to inflate gold prices and disrupt the market, breached industry regulations, the report said.
Legal action will be taken against them in accordance with existing laws, it added. - Xinhua
