The Dallas Links to an Alleged Gold-Smuggling Scheme
It looked like business as usual the other afternoon at the Preston Road location of Dallas Gold & Silver Exchange Inc., a newish, cement-sided building just north of U.S. Highway 635. Inside the publicly traded retailer’s spacious showroom, where customers are offered cash for gold, silver, and jewelry, there were rows and rows of glass cases containing a dazzling array of rings, watches, necklaces, and rare coins for sale.
Many of the customers, it’s probably safe to say, had no idea that DGSE’s largest shareholder and biggest customer—a private, Dallas-based precious-metals conglomerate called Elemetal LLC—had been mentioned recently in criminal complaints in connection with an alleged, multibillion-dollar money-laundering scheme involving gold smuggled from South America to Miami.
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