Scam Report

Precious Metal Scams

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Precious Metals Scam Reports

The following Scam Reports are filed in the Precious Metals Investing category.

JP Morgan Gold Traders Charged

JP Morgan Gold Traders Charged

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”

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Celebrity Endorsement Scams

Celebrity Endorsement Scams

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.

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Gold Ponzi Scheme Mastermind Charged

Gold Ponzi Scheme Mastermind Charged

Defendants Allegedly Fraudulently Solicited and Received more than $4 Million from Customers in Connection with Purported Gold Sales

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Success Bullion Fraudster Pleads Guilty

Success Bullion Fraudster Pleads Guilty

Defendant received at least $550,000 from the scheme and acknowledged the proceeds were sent to a bank account he controlled in Belize.

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CFTC Guide to Precious Metals Fraud

CFTC Guide to Precious Metals Fraud

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.

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$9.8 Million Returned to Death-Row Inmate’s Bullion Customers

$9.8 Million Returned to Death-Row Inmate's Bullion Customers

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.

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$90 Million Silver Bullion Ponzi Scheme

$90 Million Silver Bullion Ponzi Scheme

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.

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Gold Coast Bullion Ordered to Pay $9.6M For Fraud

Gold Coast Bullion Ordered to Pay $9.6M For Fraud

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.

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American Bullion Exchange in $5.5M Bullion Fraud Charge

American Bullion Exchange in $5.5M Bullion Fraud Charge

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

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