If the answers seem too good to be true or dont make sense, protect your savings by just walking away.. Invoices show that Chase Metals sold Matteo 8,050 Polar Bear & Cub coins, each of which contained 1.5 ounces of silver. 2023 DISCLAIMER: All content within CoinWeek.com is presented for informational purposes only, with no guarantee of accuracy. Safeguard Metals is located in Woodland Hills, California, and Jeffrey Santulan resides in Tarzana, California. Spellane was previously employed as a salesman by TMTE Inc., a Los Angeles gold dealer that was the subject of a 2020 lawsuit from the CFTC along with 30 states, . Safeguard Metals ("SGM") is solely a retailer providing precious metals for customers individually and IRA accounts. STAY CONNECTED Both actions arose out of the CFTCs information-sharing agreement with state securities regulators, through NASAA. The defendants are also accused of failing to disclose the markup charge to investors and the risk of losing most of their investment funds. The complaint further alleges that Safeguards sales agents used prepared scripts, some written by Santulan, that were filled with false and misleading statements about how the market was going to crash and how their retirement accounts would be frozen under a new unpublicized law. The metals.com scheme affected 1600 seniors nation-wide and involved $185 million. Below is information about these offers and simple ways to spot offers that could be scams. Theme: Newsup by Themeansar. Securities litigation attorney Scott Silver, who is representing several of Safeguard Metals' alleged victims in arbitration proceedings, is calling for regulatory reform. $68.51. As part of the fraudulent scheme, Defendants charged fees that were almost 50% higher than the maximum fees that were disclosed to investors who purchased silver coins from Safeguard Metals. As the market continues to fluctuate, we anticipate more fraudsters using fear and uncertainty to manipulate good people out of their hard-earned money.. Shop Now. Drug distributors, J&J to pay $590 mln to settle U.S. tribes' opioid claims REUTERS The lawsuit filed in Los Angeles federal court alleges that Safeguard Metals violated the federal Commodity Exchange Act by advising elderly "investors" to cash out their savings and . What is Liberty National doing to avoid lawsuits? . This joint civil enforcement action against the precious metals dealer is understood to be the second of its kind, after the CFTC and state regulators filed an action in 2020 against Metals.com and its principals, Lucas Asher and Simon Batashvili. BBB Business Profiles are subject to change at any time. Jun 21 2021. Required fields are marked *. New York, New York Attorney General Letitia James TODAY filed suit against a precious metals company Safeguard Metals LLC and its owner and manager, Jeffrey Santulan, also known as Jeffrey Hill, for defrauding investors including several seniors in New York and across the country., The lawsuit, filed by the US . I will likely not live long enough to see this money ever recovered unless I can join a class action suit against Safeguard Metals. for(i=0;i What Happened To Royal Wilder's Sons,
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2023-04-21