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South Florida gold refiner caught with 'blood gold' files bankruptcy
As Feds Target 'Blood Gold' and Dirty Money, This Miami Refinery Has Bigger Problems
By Nicholas Nehamas, Jay Weaver, and Jim Wyss
Miami Herald
Friday, December 21, 2018
Republic Metals, the South Florida-based gold refiner that is one of the nation's largest, has filed for bankruptcy, a further sign of trouble for the U.S. precious metals industry, which has been targeted by federal prosecutors investigating "blood gold" for more than two years.
Republic -- a family-owned company with a 38-year history in South Florida -- buys raw gold and silver from the United States, Canada, and Latin America, processes the metal, and then sells it to corporate giants, including Tiffany & Co., Apple, and General Motors.
Because of its proximity to Latin America, which is rich both in gold deposits and drug traffickers seeking to launder money, Miami has become a major hub for the U.S. gold industry. ...
... For the remainder of the report:
https://www.miamiherald.com/news/business/article223213905.html
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