On Dec. 19, 2025, Alex and Sam Nguyen — owners of Downtown L.A.’s Newport Gold Post — pleaded guilty in federal court to conspiring to conceal more than $127 million in cash transactions by failing to file required Form 8300 reports. The couple’s business also admitted the charge; prosecutors say the conduct included cash transfers carried with “substantial heft,” heat‑sealed bundles and transactions completed without identification or inquiry into source.

  • Amount Concealed: $127,000,000+
  • Largest Reported Sale: $140,000 (cash in suitcase)
  • Business: Newport Gold Post — Los Angeles Jewelry District
  • Plea Date: Dec. 19, 2025

Context

The Department of Justice says the Nguyens repeatedly failed to file Form 8300 for cash purchases that exceeded the $10,000 reporting threshold and did not implement a federally mandated anti–money laundering program despite repeated IRS warnings. Alex Nguyen also admitted to filing a false tax return, omitting more than $1.5 million in personal income for 2019.

This case lands as the jewelry trade navigates 2025’s twin pressures: greater regulatory scrutiny and the expanding secondary market for high‑value metals and lab‑grown goods. As transactions migrate beyond retail counters — often settled in cash or through private sales — regulators have intensified enforcement. The Newport Gold Post matter illustrates how easily large cash flows, described by prosecutors as having “substantial heft” and packaged to avoid visibility, can trigger criminal exposure when reporting and AML safeguards are absent.

Impact for U.S. Retailers and Investors

For retailers and investors, the takeaways are practical and immediate. Failure to file Form 8300s and to adopt an AML program exposes businesses to criminal charges, civil penalties and severe reputational damage that can undermine consignments, financing and insurance. Simple procedure gaps — not requesting identification for high‑value cash purchases, not recording transactions contemporaneously, or tolerating opaque cash deliveries — can convert routine trade in metals and diamonds into a regulatory liability.

Operational measures to mitigate risk are clear: institute a written AML policy, train staff to recognize and document cash transactions over $10,000, reconcile daily receipts with bank deposits, and engage counsel for periodic Patriot Act/AML examinations. For investors, heightened enforcement increases counterparty risk: provenance and chain‑of‑custody controls are now material to valuation, particularly in the lab‑grown and secondary markets where liquidity depends on transparent records.

The DOJ’s statement and IRS guidance remain the authoritative references for compliance: businesses should review the Form 8300 rules, the Jewelers Vigilance Committee’s AML resources, and consult with counsel on structuring internal controls that withstand scrutiny.

Photo: Getty Images

Image Referance: https://www.jckonline.com/editorial-article/la-precious-metal-guilty-8300s/