The man was arrested on Thursday in connection with coordinated raids in several cities in the country, and was remanded in custody on Friday. In addition to the Swede, another man and two women were arrested and remanded in custody, Paraguayan media reported.
The four are suspected of having smuggled gold from Brazil, refined it in Paraguay, transported it to Panama and from there the gold is said to have been sent to Turkey and the United Arab Emirates.
The investigation that led to the arrests began in April this year when a man was stopped at the airport outside the capital Asunción with 27 kilograms of gold in a suitcase that he was to take with him to Panama.
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