These precious metals companies are top-rated in our Trusted Directory and have been fully vetted and reviewed as part of our 5-step verification process.
The following Scam Reports are filed in the Precious Metals Investing category.
Carried out the fraudulent scheme by explaining to victims that RRC’s silver trading program was a lucrative investment that involved the buying and selling of actual silver bullion; that 100% of investor funds would be used to buy actual silver; that all the silver bullion purchased would be stored at Brinks Global Services in Salt Lake City or Los Angeles
Global Gold Exchange, LLC and its managers, were sentenced in federal court today for committing multiple financial and firearms crimes, including laundering money through their unlicensed money transmitting business by falsely reporting transactions as “gold” and other precious metals
The former President & CEO of Northwest Territorial Mint, a now-bankrupt company dealing in precious metals, was convicted today in U.S. District Court in Seattle of 14 federal felonies resulting from a Ponzi-like scheme that defrauded customers of millions of dollars, announced Acting U.S. Attorney Tessa M. Gorman.
South Florida federal prosecutors have charged a Miami-Dade County business owner with facilitating a $140 million transnational illicit gold smuggling operation aimed at laundering cash with alleged ties to criminal activity.
Fraudsters posed as the leaders of the scheme and told victim-investors they had created a plan to make money by extracting gold from dirt using a revolutionary process developed by one of the team – who was held out to investors as an expert in metallurgy and the refining of precious metals.
Karlsson admitted that he used the website to invite potential investors to purchase shares of the plan for less than $100 per share, promising an eventual payout of 1.15 kilograms of gold per share, an amount of gold which as of Jan. 2, 2019, was worth more than $45,000.
Lovett executed a financial fraud scheme involving investments in mining projects involving precious metals. During the course of the scheme, Lovett fraudulently obtained nearly $850,000 from more than 30 investors, by inducing victims to invest in Safari Minerals, Inc. (Safari) and other entities with which Lovett was affiliated.
Dual U.S./Swiss Citizen Convicted of Fraudulently Soliciting Millions In Investment Scheme To Purportedly Export Diamonds and Gold From Africa. Fritz Kramer was sentenced today to 108 months in prison, and ordered to pay $7,956,267 in restitution, following convictions for wire fraud and commodities fraud.
“For over eight years, traders on JP Morgan’s precious metals and U.S. Treasuries desks engaged in separate schemes to defraud other market participants that involved thousands of instances of unlawful trading meant to enhance profits and avoid losses,” said Acting Assistant Attorney General Brian C. Rabbitt
In Austin today, a federal judge sentenced 49-year-old Charles McAllister, CEO and owner of Bullion Direct, Inc. (BDI), to ten years in federal prison for money laundering and scheming to defraud customers out of millions of dollars
U.S. Coin Bullion, a local Orlando company formed in 2012 engaged in a conspiracy to defraud customers. Instead of using the customers’ funds to purchase precious metals as had been promised, the owners caused U.S. Coin Bullion to use customer funds to pay other customers.
Assistant Attorney General Brian A. Benczkowski said “The defendants and others allegedly engaged in a massive, multiyear scheme to manipulate the market for precious metals futures contracts and defraud market participants”
The SEC is warning investors not to make investment decisions based solely on celebrity endorsements. It is never a good idea to make an investment decision just because someone famous says a product or service is a good investment.
Defendants Allegedly Fraudulently Solicited and Received more than $4 Million from Customers in Connection with Purported Gold Sales
Defendant received at least $550,000 from the scheme and acknowledged the proceeds were sent to a bank account he controlled in Belize.
The following information is designed to notify you about tricky promises of easy profits from rising prices in precious metals such as gold, silver, palladium, and platinum.
Bullion company owner is on California’s death row in relation to a separate investigation and conviction in state court for contracting with hitmen who murdered his wife in 2008.
Defendants are alleged to have fraudulently sold contracts of sale of silver in a nationwide scheme. $90 million Ponzi scheme, in violation of the Commodity Exchange Act (CEA) and CFTC regulations.
The CFTC Order requires Gold Coast Bullion to pay restitution totaling $5,940,124.16 and a civil monetary penalty of $3.75 million. In addition, the Order imposes permanent registration and trading bans.
Defendants are alleged to have solicited approximately $5.5 million from at least 80 customers to invest in precious metals, including gold, palladium, platinum, silver bullion and gold and silver coins
