The compliance department of a Dallas-based precious metals firm was duped by its own sales executives and a Peruvian smuggler into importing hundreds of millions of dollars of illegally mined gold, according to court records published last week.
The Dallas, TX-based gold refinery pleaded guilty to failure to maintain an adequate anti-money laundering program, in violation of the Bank Secrecy Act, as part of a plea agreement with the U.S. Justice department that also requires the company to forfeit $15 million in lieu of a fine.
March 19, 2018
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