it seemed, was shipping it into Hong Kong. They had no idea what the next steps were, nor in whose hands the explosive might even- tually end up. They relayed the information back to the DEA. This left Bailey in a quandary. If the DEA tipped off the Hong Kong authorities about the explosives shipment, there was a chance it could start a cascade of events that would drive Le Roux underground. If they didn’t, people could die. Bailey told the office in Brazil to make the call to Hong Kong.

On April 30, officers from the Organized Crime and Triad Bureau in Hong Kong raided a warehouse in Tsuen Wan, north of the city. As expected, they discovered a stash of ammonium nitrate fertil- izer. The surprise was in the amount: twenty tons of the stuff, di- vided into a thousand bags labeled as sodium chloride. Police found Doron Shulman’s real name on the warehouse lease, while the fertilizer’s shipping documents pointed to a Hong Kong- registered company called Ajax Technology. The cops converged on the company’s office on a busy downtown street lined with banks, and took Shulman into custody. When the OCTB searched the office and Shulman’s apartment, they found bank records for a dozen other companies with names like GX Port Limited, Cycom, and Southern Ace. They also found sale deeds for two stash houses, five kilograms of pure silver, receipts for tens of millions of dollars in gold bars, and handwritten directions to a meeting in Buenaven- tura, Colombia, with Luis Caicedo Velandia, aka “Don Lucho”— the head of one of the world’s biggest cocaine cartels. Shulman’s lawyer would later argue that, because of his back- ground as a member of the Duvdevan, the elite special forces unit of the Israeli Defense Forces, “he was trained to follow orders without any questions . . . [When told] to look after some valu- ables in Hong Kong, he did it diligently without any question. Being simple and without experience in finance, he landed himself into deep trouble.” In fact the wires showed Shulman to be deeply