The U.S. Attorney’s Office said it has agreed not to prosecute one of the country’s biggest gold refineries, Republic Metals Corp. (RMC), after an investigation into possible money laundering, Reuters reported. 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 2017 said that another U.S. refiner, Elemetal, had bought 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 that it had agreed a non-prosecution deal with RMC after “an investigation focusing on money laundering and violations of the Bank Secrecy Act.” RMC would continue to cooperate with an ongoing investigation and improve its anti-money laundering and compliance programs, it said in a statement on its website. Miami-based RMC declared bankruptcy last year. Its assets are being bought by rival refiner Asahi.
