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CFTC, state regulators secure $51m in California metals fraud case

A pile of old silver coins.
Photo: Layne Kennedy/Getty Images

Catherine Ollinger

1 min read
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The scheme targeted elderly victims by convincing them to purchase significantly marked-up silver coins with their retirement savings.

The US Commodity Futures Trading Commission (CFTC) recently obtained $51m total in a precious metals fraud case, in conjunction with 30 state regulatory agencies belonging to the North American Securities Administrators Association (NASAA).

A California court entered a final judgment on November 20 against Safeguard Metals LLC and Jeffrey Ikahn, fining

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