The Real Deal Miami

Miami gold family sued for allegedly using company funds to buy SoFla real estate

Opa-locka-based Republic Metals declared bankruptcy last year amid an industry-wide investigation into gold purchases from illegal mines
February 08, 2019 12:30PM

(Credit: Zillow and iStock)

Last year, Republic Metals declared bankruptcy amid an industry-wide investigation into gold purchases from illegal mines in South America.

Now, creditors of Republic Metals are suing the owners of the Opa-locka-based precious metal company, alleging that its CEO Jason Rubin and his sister, Lindsey Rubin, used the company’s money “to fund their lavish lifestyles, including luxury homes and automobiles, boats, travel, clothing, and entertainment,” according to the Miami Herald. The lawsuit was first reported by the Miami New Times.

Miami-Dade County property records show Jason Rubin bought a 4,233-square-foot, five-bedroom waterfront house at 268 South Parkway in Golden Beach for $4.25 million in January 2018. Lindsey Rubin also purchased a condo in the Caribbean Condo at 3737 Collins Avenue in Miami Beach for $3.3 million in 2014, according to property records. She bought the condo the same day she got a $5.7 million bonus from the company, according to the Miami Herald.

The lawsuit was filed in Miami federal court last week by eight creditors who claim they loaned the company nearly $200 million. Republic is one of the largest precious metal refineries in the United States, according to the Miami Herald.

In 2017, three employees at Miami-based NTR Metals were convicted of a $3.6 billion money-laundering scheme. [Miami Herald] — Keith Larsen