Skip to Primary Navigation

Skip to main content

CFTC and 30 state regulators act over fraud scheme targeting elderly

Safeguard Metals LLC charged over fraudulently overpriced silver coins that targeted elderly people.

Premium article

Julie DiMauro

Image of an elderly couple on the beach.
Photo: Michael Steele/Getty Images
Click to share on Facebook (Opens in new window/tab) Click to share on X (Opens in new window/tab) Click to share on LinkedIn (Opens in new window/tab) Click to share on WhatsApp (Opens in new window/tab)

On Wednesday, 30 state regulators and the Commodity Futures Trading Commission (CFTC) announced a settlement with a precious metals dealer and its owner for operating a nationwide $68m fraudulent scheme targeting elderly and retirement-aged people.

The settlement resolves the federal lawsuit filed in February 2022 in the US District Court

, , , , , , , , , , ,

Get full access, free for a month

This is a Premium article. Start your 28-day free trial to continue reading and access all content on GRIP – no payment details required.

Start free trial
Sign in

What’s included:

  • Every new article, plus our 6,000+ archive
  • Daily regulatory insight and guidance
  • Exclusive interviews and in-depth analysis
  • Coverage of industry-leading events and conferences
  • All podcasts and videos, featuring industry experts
  • The full set of Rules Navigator tools
  • An ad-free experience