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CFTC and 30 state regulators act over fraud scheme targeting elderly

Image of an elderly couple on the beach.
Photo: Michael Steele/Getty Images

Julie DiMauro

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

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 for

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