Category Archives: consumer fraud

Alexander Spellane, bullion precious metals, CFTC, Commodity Exchange Act, Commodity Futures Trading Commission, Consumer Alert, consumer fraud, Crime and Fraud, Featured Bullion, Fisher Capital, Home Page Bullion, Precious Metals, Precious Metals News, Recent Articles & Video

CFTC Charges Precious Metals Dealers in Elderly Fraud

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Commodity Futures Trading Commission (CFTC) …… The Commodity Futures Trading Commission (CFTC) announced on Tuesday, April 25, 2023, it has filed a civil enforcement action in the U.S. District Court for the Eastern District of New York against two affiliated precious metals dealers located in Los Angeles, California: Fisher Capital LLC and AMS Consulting Solutions […]

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Be Wary of King Charles III “Pretender” Coins Cautions Professional Numismatists Guild

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New coins depicting King Charles III are expected to be popular with the public and collectors when The Royal Mint strikes and distributes them, according to the Professional Numismatists Guild (PNG). However, the nonprofit coin dealer’s organization cautions that consumers and investors should know the difference between official legal tender and coins issued by countries […]

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Anti-Counterfeiting Educational Foundation Warns: Hundreds of Websites Selling Fake Coins

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ACEF warns of fake “precious metal” and “rare coins” offered online, and helps a Texas investor who became an unsuspecting victim   Looking to buy gold and silver, “Oliver”, an investor in Texas, responded to advertisements on Facebook from two companies that touted exceptionally low “introductory offer” prices for silver and gold bullion coins. He […]

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Owner of Rust Rare Coin Sentenced to 19 Years in Prison for Fraudulent Silver Trading Program

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By United States Attorney’s Office, District of Utah …… Gaylen Dean Rust, 62, of Layton, Utah, was sentenced to 19 years in federal prison by a U.S. District Court Judge on Tuesday, March 8, 2022, after being convicted of conspiracy to commit wire fraud, conspiracy to commit money laundering, and securities fraud. Rust was ordered […]

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ACEF Concerns Included in Federal Review of Counterfeiting & Piracy Markets

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The sale of counterfeit U.S. coins and precious metals on e-commerce platforms and third-party marketplaces continues to escalate and the number of victims proves to be a highly lucrative and profitable business for counterfeiters. “Unfortunately, victims across the country are falling prey to the unscrupulous marketing tactics, which result in financial losses,” said Doug Davis, […]

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Bullion & Metals, CFTC, Commodity Exchange Act, Commodity Futures Trading Commission, Consumer Alert, consumer fraud, Crime and Fraud, Home Page Bullion, Jeffrey Santulan, NASAA, North American Securities Administrators Association, Precious Metals, Press Releases, Recent Articles & Video, Rostin Behnam, Safeguard Metals, Security Exchange Commission, Vincent McGonagle

CFTC Charges Safeguard Metals With Precious Metals Fraud Targeting the Elderly

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  Commodity Futures Trading Commission (CFTC) …… The Commodity Futures Trading Commission (CFTC) and 27 state securities regulatory agencies that are members of the North American Securities Administrators Association (NASAA) announced the filing of a joint civil enforcement action in the U.S. District Court for the Central District of California against a precious metals dealer […]

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Bullion & Metals, CFTC, Commodity Exchange Act, Commodity Futures Trading Commission, Consumer Alert, consumer fraud, Crime and Fraud, Dodd Frank, Fraud, Home Page Bullion, Louis Carabini, Michael Carabini, Monex, Precious Metals, precious metals investing, Press Release, Recent Articles & Video

U.S. Court of Appeals Rules in Favor of CFTC in Fraud Case Against Monex Deposit Company

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Commodity Futures Trading Commission (CFTC) ……   On Thursday, July 22, the Commodity Futures Trading Commission (CFTC) announced that the United States Court of Appeals for the Ninth Circuit affirmed a preliminary injunction in the CFTC’s anti-fraud enforcement action against Monex Deposit Company (Monex) and its affiliated companies and principals on July 20. This marks […]

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Betty Lea Grimes, Bullion & Metals, CFTC, Commodity Futures Trading Commission, consumer fraud, Crime and Fraud, Mark Olsen Mining Company, People, Precious Metals, Press Releases, Recent Articles & Video, South Africa

Mark Olsen Mining Company to Pay Over $3.6 Million to Fraud Victims: CFTC

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By Commodity Futures Trading Commission …… The Commodity Futures Trading Commission (CFTC) announced today that a federal court in Florida has entered an Order of Final Judgment by Default (Final Judgment Order) and an Order Granting Motion for Final Default Judgment (collectively, Orders), against Betty Lea Grimes of Boca Raton, and the precious metals firm […]

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Bullion & Metals, CFTC, Chelsea Gless, Commodity Exchange Act, Commodity Futures Trading Commission, consumer fraud, Crime and Fraud, Precious Metals, Press Releases, Recent Articles & Video, Royal Metals Group

CFTC: Federal Court Orders Precious Metals Dealer to Pay Over $2.3 Million for Fraud

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By Commodity Futures Trading Commission ….. The Commodity Futures Trading Commission (CFTC) today announced that the U.S. District Court for the Southern District of New York entered an Order of Default Judgment and Permanent Injunction against Royal Metals Group, LLC (RMG), and its member, manager and part owner, Chelsea Gless of Iowa (collectively, “defendants”) for […]

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Bullion & Metals, Carlos Javier Ramirez, CFTC, Commodity Exchange Act, Commodity Futures Trading Commission, consumer fraud, Crime and Fraud, Gold, Gold Chasers Inc., People, ponzi scheme, Precious Metals, Press Releases, Recent Articles & Video, Royal Leisure International

Precious Metals Dealer Ordered to Pay More Than $8 Million for Fraud and Misappropriation

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By Commodity Futures Trading Commission ….. The Commodity Futures Trading Commission (CFTC) announced on March 4 that a Florida federal court ordered Carlos Javier Ramirez and his companies, Royal Leisure International, Inc. (RLI) and Gold Chasers, Inc. (GCI), to pay restitution and civil monetary penalties for fraudulently soliciting customers to purchase physical gold and misappropriating […]

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Bullion & Metals, CFTC, Commodity Exchange Act, Commodity Futures Trading Commission, consumer fraud, Crime and Fraud, Hannes Tulving, People, Precious Metals, Press Releases, Recent Articles & Video

Court Imposes $15.7 Million Penalty, Lifetime Ban Against Precious Metals Dealer Hannes Tulving

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By Commodity Futures Trading Commission ….. In 2015, the CFTC Charged California Resident Hannes Tulving, Jr. and His Firm with Misappropriation and Fraudulent Solicitation in a Precious Metals Scheme that Defrauded at Least 381 Customers Nationwide * * * The Commodity Futures Trading Commission (CFTC) announced today that Judge Robert J. Conrad Jr. of the […]

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Bullion & Metals, BullionDirect, CFTC, Charles H. McAllister, Commodity Futures Trading Commission, consumer fraud, Crime and Fraud, FBI, Fraud, IRS, ponzi scheme, Precious Metals, Press Release, Recent Articles & Video

Bullion Dealer Charles Mcallister Charged with Fraud & Money Laundering

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By Commodity Futures Trading Commission …… The Commodity Futures Trading Commission (CFTC) filed a federal civil enforcement action in the U.S. District Court for the Western District of Texas against Defendant Charles H. McAllister, of Auburn, Alabama, charging him with fraud and misappropriation in connection with contracts of sale of precious metals through his company, […]

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bullion, Bullion & Metals, Bullion Dealers, Bullion News, Bullion Storage, Consumer Alert, consumer fraud, Court, Crime and Fraud, Diane Renee, FBI, Fraud, IRS, Northwest Territorial Mint, People, ponzi scheme, Press Release, Recent Articles & Video, Ross Hansen

Former Northwest Territorial Mint President Ross Hansen Indicted for Fraud

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Along with Former Vault Manager, Former Northwest Territorial Mint President Ross Hansen was indicted for Defrauding Customers with False Promises about Bullion Delivery, Storage, & Leasing; Over 3,000+ Customers may have lost more than $25 Million By United States Attorney’s Office, Western District of Washington ……   The former President and CEO and the former vault […]

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Accredited Precious Metals Dealer, APMD, Barry Stuppler, Bullion & Metals, BUying gold, California Coin and Bullion Merchants Association, CFTC, Clubs & Organizations, Commodity Futures Trading Commission, Consumer Alert, consumer fraud, Crime and Fraud, Dealers and Companies, Fraud, Gold Bullion, PNG, Precious Metals, Press Releases, Professional Numismatists Guild, Recent Articles & Video, Scams

PNG: Three Tips To Avoid Gold Scams

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Following the recent fraud charges filed by the Commodity Futures Trading Commission (CFTC) against a California gold seller, a trade group composed of veteran precious metals experts is urging investors to take three important steps before making any purchases of gold, silver or platinum ​bullion ​coins or ingots. “To avoid paying too much when you […]

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Bullion & Metals, BUying gold, Consumer Alert, consumer fraud, Consumer protection, Crime and Fraud, Fraud, Hubert Walker, Larry Bates, ponzi scheme, Recent Articles & Video, Tennessee

Convicted Gold Scammer Larry Bates Sentenced to 21 Years in Federal Prison

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Convicted of all 46 counts against him, 73-year-old Bates evades maximum sentence of 20 years for each one By Hubert Walker for CoinWeek …. On Thursday, September 7, the Acting United States Attorney for the Western District of Tennessee, Lawrence J. Laurenzi, announced the federal sentences given to Larry Bates and three other members of […]

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Texas Man Arrested for Fraud Involving Rare Coins

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Worked for different coin companies in Beaumont over a period of five years By CoinWeek News Staff ….   Last Wednesday on July 12, the United States Attorney’s Office for the Eastern District of Texas announced that 42-year-old Wesley Judy Pollard, Jr. of Beaumont had been arrested earlier that day on allegations of federal mail […]

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Bullion & Metals, BUying gold, Consumer Alert, Consumer Alert Gold, consumer fraud, Consumer protection, Crime and Fraud, FBI, Hubert Walker, Larry Bates, ponzi scheme, Recent Articles & Video, Tennessee

Mystery Babylon: Revelations Lead to Fraud Convictions for “End of the World” Gold Scammers

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Former politician Larry Bates played on the beliefs of fellow Christians to sell gold and silver that he never delivered By Hubert Walker for CoinWeek ….   Seventy-year-old Larry Bates is a talk radio CEO, a former Tennessee state representative, and a gold and silver bullion dealer. Now, after a five-week trial in Memphis back […]

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AmeriFirst Management LLC, Andrew Kurzbard, Bullion & Metals, CFTC, Commodity Exchange Act, Commodity Futures Trading Commission, consumer fraud, Crime and Fraud, Dodd Frank, Fraud, Guardian Asset Group LLC, Precious Metals, precious metals futures, Precious Metals News, Press Release, Recent Articles & Video

Federal Court Orders More Than $1 Million in Restitution from Guardian Asset Group

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By Commodity Futures Trading Commission ….   On May 23, the U.S. Commodity Futures Trading Commission (CFTC) announced that Judge Kenneth A. Marra of the U.S. District Court for the Southern District of Florida entered a Consent Order against Guardian Asset Group, LLC (Guardian) of West Palm Beach, Florida, and its owner and principal, Andrew […]

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AmeriFirst Management LLC, Andrew Kurzbard, Bullion & Metals, CFTC, Commodity Exchange Act, Commodity Futures Trading Commission, consumer fraud, Crime and Fraud, Dodd Frank, Fraud, Guardian Asset Group LLC, Precious Metals, precious metals futures, Precious Metals News, Press Release, Recent Articles & Video

Federal Court Orders More Than $1 Million in Restitution from Guardian Asset Group

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By Commodity Futures Trading Commission …. On May 23, the U.S. Commodity Futures Trading Commission (CFTC) announced that Judge Kenneth A. Marra of the U.S. District Court for the Southern District of Florida entered a Consent Order against Guardian Asset Group, LLC (Guardian) of West Palm Beach, Florida, and its owner and principal, Andrew Kurzbard, […]

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Texas Attorney General Issues Gold Coin Consumer Protection Tips

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By Universal Coin & Bullion …… With input from numismatic experts, the Attorney General of Texas, Ken Paxton, has issued a consumer protection alert about buying and selling gold coins. Award-winning rare coins and precious metals writer, Michael Fuljenz, President of Universal Coin & Bullion in Beaumont, Texas, provided continuing consultation to the attorney general’s […]

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Bullion & Metals, CFTC, Commodity Exchange Act, Commodity Futures Trading Commission, consumer fraud, Crime and Fraud, Dodd Frank, Joseph DiCrisci, Oakmont Financial Inc., Precious Metals, Press Releases, Recent Articles & Video

Federal Court Orders Nevada Man to Pay $2.9 Million+ Penalty for Illegal Precious Metals Transactions

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Court Earlier Entered a Default Judgment Order against Oakmont Financial, Inc. By Commodity Futures Trading Commission ….   The U.S. Commodity Futures Trading Commission (CFTC) announced that Judge William P. Dimitrouleas of the U.S. District Court for the Southern District of Florida entered an Order of Final Judgment by Default (Order) against Defendant Joseph Charles […]

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Be Wary of So-Called “Trump Coins” Cautions Professional Numismatists Guild

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  So-called “Trump coins” are being offered in the marketplace, and they may be delightful souvenirs, but in many cases should not be mistaken for “rare coins,” cautions the Professional Numismatists Guild. In some cases, the items being offered are not even actually coins despite how they’re advertised, according to the PNG. “Buyers today may […]

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Bullion & Metals, CFTC, Commodity Exchange Act, Commodity Futures Trading Commission, consumer fraud, Crime and Fraud, Hunter Wise LLC, News This Month, Precious Metals, Press Releases, Recent Articles & Video, Scott Platto, Yorkshire Group

Federal Court Orders Yorkshire Group to Pay More Than $1.56 Million for Illegal Precious Metals Transactions

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By Commodity Futures Trading Commission ….   The U.S. Commodity Futures Trading Commission (CFTC) obtained a federal court default judgment Order Adopting the Report and Recommendation (Order) against Defendants The Yorkshire Group, Inc. (Yorkshire) and its principal Scott Platto. The Order stems from a CFTC Complaint, filed on September 25, 2013, that charged the Defendants […]

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CoinWeek News Wire for October 14, 2016

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By CoinWeek …. CoinWeek News Wire for October 14, 2016 Brain Food 1.) A guide to valuing all your old Irish coins (PHOTOS) Between the formation of the Republic of Ireland, the shift towards decimalization, and the introduction of the Euro, Irish currency underwent a great number of changes over the past 100 years, resulting in […]

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CFTC Charges Florida-Based Kelvin Burgos with Illegal, Off-Exchange Precious Metals Transactions

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By Commodity Futures Trading Commission ….   The U.S. Commodity Futures Trading Commission (CFTC) filed a civil injunctive enforcement action in the U.S. District Court for the Southern District of Florida against Florida-based Defendants KB Concepts Group, LLC d/b/a Apex Asset Advisors, LLC (Apex) and Kelvin Burgos, Apex’s president, controlling person, and managing member responsible […]

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Santa Monica Obtains $2 Million Judgment Against Merit Gold and Silver

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Third Santa Monica Case Against National Gold Coin Dealers By Santa Monica City Attorney’s Office…. The Santa Monica City Attorney’s Office has obtained a $2 million court judgment against precious metals dealer Seacoast Coin, Inc., formerly doing business as Merit Financial and Merit Gold and Silver. Merit was based in Santa Monica but did business […]

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Coin Dealer, Grading Company Hit for Nearly $2 Million under Federal Racketeering Laws

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By Paul Montgomery and Associates – PaulMontgomeryOnline.com….   A Federal Court Judge in Texas has ruled that a coin fraud victim’s estate should receive almost $2 million from a Long Island coin dealer and his grading company under the Racketeer Influenced and Corrupt Organization Act (RICO). The estate was assisted in its three-year recovery efforts […]

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