Latest News

b

Ecuador Revealed to Be Major Transit Hub for Illegal Gold

b

 

Ecuador has been revealed as a major transit hub for illegal Peruvian gold to the United States. #the evolution is attributed to Peru’s attempts to crack down on gold trafficking. The exposed inner workings of the gold trafficking network were exposed after case files were obtained by El Comercio, who state that two companies used emissaries to make deals with Peruvian gold smugglers on the border.

It is believed that the illegal and foreign origins of the illegal metal were covered using false documents and identities. After 2013, the two companies went on to become principal gold exporters. A statement issued by the government named US-based companies Republic Metals Corporation, Kaloti Metals and Logistics and MVP Imports as their main customers. Seven executives from Clearprocess and Spartan were arrested by police during the June raids, and have since been charged with money laundering.

The emergence of Ecuador as a transit point for Peruvian gold can be attributed to Peru’s attempts to introduce traceability of supply chains in a bid to stop the hold from being laundered. The attempt meant that many of Peru’s gold exporters were under suspicion, which mean a change in trafficking patterns occurred. Although the patterns are changing, it appears the same names keep arising as buyers of alleged-illegal gold.

RMC is one such company, and is known to be embroiled in numerous mining scandals. However, a recent statement states that the company is working with aggregators in an effort to prevent gold operations being used for money laundering. It also stated that it only deals with single source mining entities.

 

 

 

You may also like

c

FARC Guerrilla Unit Refuses to Demobilise

  A FARC guerrilla unit has refused to demobilise as part of a peace deal with the Colombian government. Although other factions have agreed to the deal, The 1st Front has advised it will not conform, on the belief that the Colombian government will not change the way it operates. The 1st Front went on […]

8649402674_07134c675c_o

Vice President of Venezuela Is Highest Ranking Official Accused of Drug Trafficking

A recent decision by the United Stated to sanction Vice President Tareck El Aissami makes him the highest-ranking official to be accused of drug-trafficking under President Nicolas Maduro’s Government. Sanctions were announced on February 13 by the Treasury Department. The allegations state that the El Aissami had control over the planes that left a Venezuelan […]

ven-people

The Current State of Venezuela

The thought of Venezuela being a safe and secure, law-abiding country is a distant dream these days. There is what seems to be a never-ending list of problems that are doing well to ensure years upon years of civil and governmental unrest in the country. If you are doing business in the country, there has […]

Leave a Reply

Your email address will not be published. Required fields are marked *