Silver Law Group and Weinberg, Wheeler, Hudgins, Gunn & Dial have filed several arbitrations on behalf of investors who suffered losses investing in precious metals and coins purchased through Safeguard Metals. Silver Law Group and Weinberg, Wheeler, Hudgins, Gunn & Dial are continuing to investigate potential claims on behalf of more than a dozen other investors.
Safeguard Metals is a California-based company that sells investors precious metals, often in the form of “rare” or numismatic coins, as purported retirement investments. Safeguard’s website pitches the investments as a way to “hedge against uncontrolled government spending and dizzying money printing by the Federal Reserve.”
Silver Law Group and Weinberg, Wheeler, Hudgins, Gunn & Dial’s clients hoped to earn a return on their investment, or at least for the metals to maintain their value, but instead suffered substantial losses primarily due to complex and hidden fees, commissions, and/or undisclosed markups. Investors lost substantial amounts of their principal through their Safeguard purchases.
Our attorneys represent investors who allege that Safeguard Metals sales agents assured them these investments were safe and would be profitable. We are now pursuing claims against Safeguard Metals for substantial losses our clients suffered. The plaintiffs’ allegations include claims for violations of the Commodity Exchange Act, fraud, and negligent misrepresentation. Amongst other misrepresentations, the investors allege that Safeguard Metals misrepresented the value of the coins at the time of purchase.
Precious Metal Scams
According to the CFTC, possible persuasion tactics indicating a fraud or scam include:
- Dangling the prospect of wealth and enticing you with something you want, but can’t have.“This gold purchase is guaranteed to rise double what your current investments are doing.”
- Trying to build credibility by claiming to be with a reputable firm or to have a special credential or experience.
“Believe me, as a senior vice president of XYZ Metals Merchant Inc., I would never sell an investment that doesn’t produce.”
- Leading you to believe that other savvy investors have already invested.
“This is how Bob down your street got his start. I know it’s a lot of money, but I’m in and so is half our club.”
- Offering to do a small favor for you in return for a big favor.“I’ll give you a break on my commission if you buy now—half off.”
- Creating a false sense of urgency by claiming limited supply.
“There are only two units left and the Asian market is about to open, so I’d sign up today.”
Precious Metal Fraud Attorneys
Silver Law Group and Weinberg, Wheeler, Hudgins, Gunn & Dial currently represent Safeguard Metals investors in arbitration claims against the firm, seeking recovery of their losses. We are happy to talk to investors by phone or video conference about their legal rights and the arbitration claims we have filed against Safeguard Metals.
Our attorneys have significant experience recovering investor money due to misconduct by precious metals firms such as Safeguard Metals. If you suffered losses and would like a confidential consultation with an investment fraud attorney with passion and experience advocating for aggrieved investors, call Silver Law Group toll free at (800) 975-4345 or email [email protected].
Scott L. Silver, Esq. Silver Law Group 4755 Technology Way, #205 Boca Raton, FL 33431 800-975-4345 (Toll Free) www.silverlaw.com www.securitiesfraudattorneys.com Email: [email protected]
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Scott L. Silver, Esq.
Silver Law Group
4755 Technology Way, #205 Boca Raton, FL 33431
800-975-4345 (Toll Free)
Email: [email protected]