Skip to Primary Navigation

Skip to main content

CFTC secures $18.5m in penalties over silver leasing fraud

Silver bars
Photo: asbe/Getty Images

Alexander Barzacanos

1 min read
 Click to share on Facebook (Opens in new window/tab) Click to share on Twitter (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)

The scheme promised more than 60 investors insured vault storage and fixed monthly returns, and left them with $8m in losses.

A federal court entered orders totaling almost $18.5m in restitution and civil penalties against several Florida individuals and companies for operating a fraudulent silver leasing investment program, concluding years of parallel civil and criminal litigation by the Commodity Futures Trading Commission (CFTC) and the Department of Justice (DOJ).

Silver Lease

, , , , , , , , ,

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 5,000+ 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