MIAMI GOLD REFINERY NON-PROSECUTION AGREEMENT OVER ALLEGED MONEY LAUNDERING

A news release from the US Attorney in Southern Florida reported that the Miami-based gold refinery company, Republic Metals Corporation (RMC) has agreed a non-prosecution agreement after co-operating in an investigation focusing on money laundering and violations of the Bank Secrecy Act in the gold importation and refining industry.  Under the terms of the agreement, RMC agreed to continue co-operating in the ongoing investigation, as well as to make improvements in its AML and compliance programmes.  RMC is the second US gold refinery that has been implicated in investigation into the gold importation and refining industry.  Previously, Elemetal LLC pled guilty to failing to maintain an adequate AML programme.

https://www.justice.gov/usao-sdfl/pr/united-states-government-and-cooperating-us-gold-refinery-enter-agreement-after-money

https://www.miamiherald.com/news/local/crime/article229361954.html

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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