U.S. will not prosecute Miami gold refinery after money laundering probe
18 Apr 2019

The U.S. Attorney’s Office said it has agreed not to prosecute one of the country’s biggest gold refineries, Republic Metals Corporation (RMC), after an investigation into possible money laundering.

The probe is part of a broader crackdown by U.S. authorities on imports of gold from South American countries such as Colombia and Peru that is illegally mined or used to launder drug money.

Investigators in 2018 charged here another U.S. refiner, Elemetal, with buying billions of dollars’ worth of illegal gold from South America. Several of its employees received jail terms.

The U.S. Attorney’s Office in the Southern District of Florida said on Wednesday it had agreed a non-prosecution deal with RMC after “an investigation focusing on money laundering and violations of the Bank Secrecy Act.”

By Peter Hobson, Reuters, 18 April 2019

Read more at Reuters

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