By United States Attorney’s Office, District of Montana …… On Monday, November 7, 2022, a Colorado man who admitted to defrauding a Montana family of $391,280 USD by purporting to invest the money in gold in Africa was sentenced to 27 months in prison and fined $5,000, to be followed by three years of […]
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Commodity Futures Trading Commission (CFTC) …… On Wednesday, October 5, 2022, the Commodity Futures Trading Commission (CFTC) announced that it filed a civil enforcement action in the U.S. District Court for the District of Delaware against a precious metals dealer, Argent Asset Group LLC, and a precious metals depository, First State Depository Company, LLC, […]
The post Precious Metals Dealer Bob Higgins of Argent Group Charged With Ongoing Fraud appeared first on CoinWeek.
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 […]
The post Anti-Counterfeiting Educational Foundation Warns: Hundreds of Websites Selling Fake Coins appeared first on CoinWeek.
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 […]
The post Owner of Rust Rare Coin Sentenced to 19 Years in Prison for Fraudulent Silver Trading Program appeared first on CoinWeek.
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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By United States Attorney’s Office, Southern District of California …… Global Gold Exchange, LLC and its managers, Richard M. Owen, James Warren, and Jeffrey Morrow, were sentenced in federal court on Friday, December 3 for committing multiple financial and firearms crimes, including laundering money through their unlicensed money transmitting business by falsely reporting transactions as […]
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Three major numismatic organizations that sent a letter to Facebook executives to complain that the social media platform “has become the predominant choice of some fraudsters” are disappointed with the lack of a response by Facebook and the continuing appearance of pop-up advertisements selling counterfeit coins. No response has been received in the month since […]
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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 […]
The post U.S. Court of Appeals Rules in Favor of CFTC in Fraud Case Against Monex Deposit Company appeared first on CoinWeek.
Certified Collectibles Group (CCG), which includes eight of the world’s leading providers of authentication, grading, and conservation services for coins, paper money, comic books, trading cards, and other collectibles, announced earlier this month that it has filed a second amended complaint in its lawsuit charging international technology firm Globant S.A., along with its subsidiary Globant […]
The post Certified Collectibles Group Bolsters Claim for Unfair and Deceptive Trade Practices Against Globant appeared first on CoinWeek.
Defendants Defrauded 140 Victims of More Than Eight Million Dollars By United States Attorney’s Office, District of Utah …… Marc Tager, Jonathon Shoucair, Matthew Mangrum, and Kenneth Gross have all been sentenced for their role in an eight million dollar telemarketing fraud scheme that promised investors, most of them elderly, that their business […]
The post Four Sentenced for Advanced Fee Scheme That Promised to Turn Dirt Into Gold appeared first on CoinWeek.
By Doug Davis – Founder & President, Numismatic Crime Information Center (NCIC) …… Fraudulent Credit Card Bullion Purchases The following two coins were purchased using fraudulent credit cards: 1 ounce gold eagle NGC MS703376247-004 ( Address used 1003 Allendale Rd Four Oaks NC, 27524) 2014 500 YN Gold Panda MS70 PCGS 52206.70/28747839 (Address used 1360 […]
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Numismatic Crime By Doug Davis – Founder & President, Numismatic Crime Information Center (NCIC) …… Credit Card Fraud NCIC has received information regarding numerous attempts to purchase gold bullion coins using fraudulent Synchrony Bank credit cards. The suspect/suspects request to purchase one to two one-ounce bullion coins (usually one-ounce Buffalos). The reported offenses have occurred […]
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By Commodity Futures Trading Commission …… On Tuesday, October 1, the U.S. Commodity Futures Trading Commission today announced that civil enforcement actions were filed and simultaneously settled against two trading firms and one bank for violating the Commodity Exchange Act’s (CEA) prohibition on spoofing (bidding or offering with the intent to cancel the bid or […]
The post Morgan Stanley, Mitsubishi to Pay Almost $2 Million for Spoofing Precious Metals Futures appeared first on CoinWeek.
By Doug Davis – Founder & President, Numismatic Crime Information Center (NCIC) …… Fraudulent Money Orders During the past couple of weeks, the Numismatic Crime Information Center (NCIC) has been working with our Postal Inspector contacts in Los Angeles, California in reference to bad money orders coming from an address in LA. The suspect’s MO […]
The post NCIC: Hotel Room Safe Burglary, Jewelry Store Robbery appeared first on CoinWeek.
By the United States Attorney’s Office, Middle District of Florida …… United States Attorney Maria Chapa Lopez announces that brothers Salvatore Esposito (47, Orlando) and Joseph Esposito (43, Orlando) have agreed to plead guilty to an information charging them with conspiracy to commit wire fraud and mail fraud. Each faces a maximum penalty of […]
The post Operators of U.S. Coin Bullion, LLC to Plead Guilty to More Than $7 Million in Fraud appeared first on CoinWeek.
By Commodity Futures Trading Commission ….. On September 16, the United States Commodity Futures Trading Commission (CFTC) issued an order filing and settling charges against Christian Trunz, a former precious metals trader at two financial institutions who entered into a formal cooperation agreement with the CFTC’s Division of Enforcement and admitted to spoofing in […]
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By Commodity Futures Trading Commission ….. On Monday, September 16, he U.S. Commodity Futures Trading Commission (CFTC) issued two orders filing and settling charges against John Lawrence and his employer, Heraeus Metals New York LLC, for spoofing — bidding or offering with the intent to cancel the bid or offer before execution. The order […]
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By Nassau County District Attorney’s Office …… Nassau County District Attorney Madeline Singas announced that a coin dealer from Fort Salonga was arraigned on Wednesday, September 11 for a $330,000 cross-country coin consignment and sale scheme that targeted coin dealers and private collectors from California, Michigan, Ohio and Long Island. Harold Adamo, 53, was arraigned […]
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As part of its on-going efforts to combat “coin doctoring”, the Professional Numismatists Guild (PNG) is urging dealers and collectors to respect the heritage and historical significance of all coinage to preserve the past as best as possible. PNG also is offering to assist anyone who suspects he or she unwittingly purchased a doctored coin. […]
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Barry Ron Skog, 68, of Burnsville, Minnesota, pleaded guilty February 21 to one count of selling counterfeit coins and one count of mail fraud in the United States District Court of Minnesota in St. Paul. Skog faces a potential maximum sentence of 15 years imprisonment on the count of selling counterfeit coins and a potential […]
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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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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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All dealers should be cautious about possible long-term ramifications of cashing fraudulent checks A long-time member of the Professional Numismatists Guild (www.PNGdealers.org) assisted the Federal Bureau of Investigation in solving a case involving an attempt by suspected thieves to purchase $2 million of gold using a bank check with the forged signature of a deceased New […]
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By Commodity Futures Trading Commission Bitcoin web page…. On December 15, the U.S. Commodity Futures Trading Commission (CFTC) launched a virtual currency resource web page, cftc.gov/bitcoin. This dedicated page is a central repository for Commission-produced resources about virtual currency, and is designed to educate and inform the public about these commodities, including the possible risks associated […]
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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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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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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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By Commodity Futures Trading Commission …. The U.S. Commodity Futures Trading Commission (CFTC) announced that Judge Jose E. Martinez of the U.S. District Court for the Southern District of Florida entered a Consent Order against North American Asset Management, LLC (NAAM) of Fort Lauderdale, Florida, its owner and president Alexi Bethel of Miami, Florida, […]
The post Asset Management to Pay Almost $2 Million Over Illegal Precious Metals Transactions appeared first on CoinWeek.
By Commodity Futures Trading Commission …. The U.S. Commodity Futures Trading Commission (CFTC) announced that Judge Cecilia M. Altonaga of the U.S. District Court for the Southern District of Florida entered a final Order of Default Judgment (Order) against Defendants Kelvin Burgos and his company K.B. Concepts Group, LLC d/b/a Apex Asset Advisors, LLC […]
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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 […]
The post Federal Court Orders More Than $1 Million in Restitution from Guardian Asset Group appeared first on CoinWeek.
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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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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