safeguard metals lawsuit

If the answers seem too good to be true or dont make sense, protect your savings by just walking away.. The CFTC Division of Enforcement staff members responsible for this action are Steve Turley, Clemon Ashley, Jeff Le Riche, Christopher Reed, and Charles Marvine; in partnership with enforcement authorities from NASAA member agencies, led by the Alabama Securities Commission and the California Department of Financial Protection and Innovation. Investors should also contact their state or provincial securities regulator with questions about any investment opportunity or the person offering it for sale before investing in the product. Biden Fires Warning Shot for Retirees Are You at Risk? INDIANA- Attorney General Todd Rokita today filed a lawsuit with 26 other states and a federal agency against Safeguard Metals, a business that schemed to trick elderly victims into investing. The Securities and Exchange Commission today announced charges against Safeguard Metals LLC, and its owner, Jeffrey Santulan, for engaging in a multi-million dollar fraudulent scheme involving hundreds of investors who were at or near retirement age. The complaint alleges that from approximately October 2017 and continuing through at least July 2021, the defendants fraudulently solicited and received approximately $68 million in customer fundsthe majority of which was retirement savingsfrom at least 450 persons throughout the U.S. for the purpose of purchasing precious metals, primarily consisting of gold and silver coins. Customers and other individuals can report suspicious activities or information, such as possible violations of commodity trading laws, to the Division of Enforcement via a toll-free hotline 866-FON-CFTC (866-366-2382), file a tip or complaint online, or contact the Whistleblower Office. Fraud Advisory: Precious Metals Fraud. Contests and Promotions, 2023, NPG of Idaho, Inc. Idaho Falls, ID USA, Yellowstone Teton Territory Travel and Tourism, View all our Vallow-Daybell coverage here, Idaho budget committee cuts funding to child care assistance, Idaho joins Texas lawsuit over new federal clean-water rules, Police continue to search for 16-year-old runaway, Southeastern Idaho Public Health provides free health screenings, Mortgage applications drop to 28-year low as rates climb, Report shows troubling rise in colorectal cancer among US adults younger than 55, Covid vaccine maker Novavax says it may not survive. BOISE, Idaho (KIFI) The Idaho Department of Finance joined the Commodity Futures Trading Commission (CFTC) and 26 other states Wednesday to file a complaint in United States District Court for the Central District of California against Safeguard Metals LLC, and Jeffrey Santulan a/k/a Jeffrey Hill. Topics: New York The defendants are also accused of failing to disclose the markup charge to investors and the risk of losing most of their investment funds. The minimum investment is $5000. All products are presented without warranty. Safeguard Metals is located in Woodland Hills, California, and Jeffrey Santulan resides in Tarzana, California. Civil cases usually involve secret disputes between individuals or organizations. Indiana is one of 27 states filing a lawsuit against a California company accused of bilking elderly investors throughout the country out of nearly $70 million. text = text.replace("https://docqnet.dfpi.ca.gov/licensesearch/","https://portal.dfpi.ca.gov/csp?id=ssp_license_search"); In the end, nearly every customer suffered an immediate loss of their investment on the purchase of precious metals from Safeguard Metals. Who are the top 5 gold producing countries. Maria Nikolova BBB Business Profiles generally cover a three-year reporting period. ON SALE. Help us improve the DFPI website! This is a whole series of standard personal injury claims where the plaintiff sues the defendant. The company disclosed markups to consumers, which the company referred to as operating margins, of 23 percent and later up to 42 percent. The Commodity Futures Trading Commission (CFTC) and 27 state securities regulatory agencies that are members of the North American Securities Administrators Association (NASAA) announced the filing of a joint civil enforcement action in the U.S. District Court for the Central District of California against a precious metals dealer and its owner for orchestrating a $68 million fraudulent scheme targeting elderly persons nationwide. Contact the Idaho Department of Finance at securities@finance.idaho.gov. Exactech Recall Lawsuit in Lisbon, IL. Website visitors should be aware that investment markets involve inherent risks and past performance is no guarantee of future performance. You can review our Community Guidelines by clicking here. Please keep your comments respectful and relevant. The SECs complaint alleged that between January 2017 and July 2021, Safeguard and Santulan acted as investment advisers and convinced investors to sell their existing securities, transfer the proceeds of hte sale into a self-directed Individual Retirement Account, and invest the proceeds into gold and silver coins. 10. On February 1, 2022, the Securities and Exchange Commission (SEC) announced charges against Safeguard Metals LLC, and its owner, Jeffrey Santulan, for engaging in a multimillion dollar fraudulent scheme involving hundreds of investors who were at or near retirement age. City News Service is a regional wire service covering Los Angeles, Orange, Riverside and San Diego counties. In fact, the silver coins were significantly less valuable than the defendants claimed, based on the resale prices the firm marketed and promoted. Self-directed IRAs should not be confused with traditional IRAs or other retirement vehicles. Unfortunately, this case reflects just one of the many epidemic-level investment scams targeting senior and vulnerable populations,, When it comes to protecting the public, we will not hesitate to do everything in our power to vigorously investigate and protect their retirement savings from fraud in commodities markets,, We are committed to holding those accountable who undermine the investing publics trust in our commodities markets through illegal conduct., Todays action demonstrates the commitment of state and federal regulators to work together to prevent investment fraud,, Given the complexity of investment products, our jobs have never been more important, or more demanding., Submissions Accepted for ANA Young Numismatist Literary Awards, PMG Announces Seven Million Notes Certified, First 2023 Collector Coins From Italian Mint Honor Art of Vantivelli, Heritage Offering Special Collection of World Coins, Part II, Perth Mint Issues 2023 Australian Koala Silver Bullion Coins, US Mint Releases U.S. Army 2.5 Ounce Silver Medal March 6, Big Things Happened at the United States Mint in March, Jeff Garrett: The Box of Twenty Approach to Coin Collecting, Roger Burdette: First 1878-S Morgan Silver Dollars Struck, 2023 Congratulations Set With Silver Eagle Proof on Sale March 2, The Coins of Carthage During Hannibals War With Rome. "The federal securities laws prohibit deceptive conduct and material misrepresentations in the purchase or sale of securities," said Kathryn A. Pyszka, an Associate Director in the SECs Chicago Regional Office. February 4, 2022 0 Attorney General Todd Rokita today filed a lawsuit with 26 other states and a federal agency against Safeguard Metals, a business that schemed to trick elderly victims into investing in wildly overvalued precious metals. This business is in an industry that may require professional licensing, bonding or registration. It is important to speak with a lawyer about your case. | Both actions arose out of the CFTCs information-sharing agreement with state securities regulators, through NASAA. Produced by Will Reid , Rob Szypko . Your email address will not be published. 04:23 PM. Your email address will not be published. The defendants also deceived customers into purchasing silver coins at grossly inflated prices that bore no relationship to the ranges represented to customers. The Securities and Exchange Commission today announced charges against Safeguard Metals LLC, and its owner, Jeffrey Santulan, for engaging in a multi-million dollar fraudulent scheme involving hundreds of investors who were at or near retirement age. Summerlin, Nevada. We represent investors in claims against negligent brokers and brokerage firms. BBB reports on known marketplace practices. . This joint civil enforcement action against the precious metals dealer is understood to be the second of its kind, after the CFTC and state regulators filed an action in 2020 against Metals.com and its principals, Lucas Asher and Simon Batashvili. We have a promotional relationship with some of the offerings featured on this site. February 24, 2023 36:53. In the end, nearly every customer suffered an immediate loss of their investment on the purchase of precious metals from Safeguard Metals. 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. The lawsuit alleges that Safeguard Metals, LLC and Jeffery Santulan, aka Jeffery Hill, solicited investors by targeting seniors through social media platforms and websites linked to media personalities and financial gurus, also touting precious metals at grossly inflated prices that were not disclosed. My broker is in Woodland Hills, CA 91367. Investors are advised to be particularly cautious when purchasing precious metals and to check for outrageously high commissions and markups, which weve seen as high as 30 to 70 percent, Idaho Department of Finance director Patricia R. Perkins. INVESTORS: The SEC charged Safeguard Metals, LLC and its owner Jeffrey Santulan for engaging in a multi-million dollar fraudulent scheme that reportedly targeted retirees. The Sonn Law Group is currently investigating allegations surrounding Safeguard Metals, LLC and Jeffrey Santulan. This joint investigative effort between the CFTC and 27 state regulators represents our mutual interest in protecting main street investors, said CFTC Chairman Rostin Behnam. Thus, all the compensation awarded goes to the new plaintiff. Safeguard's website pitches the investments as a way to "hedge against uncontrolled government spending and dizzying money printing by the Federal Reserve." According to the SEC's complaint, from December 2017 through at least July 2021, Safeguard and Santulan acted as investment advisers and persuaded investors to sell their existing securities, transfer the proceeds into self-directed Individual Retirement Accounts, and invest the proceeds into gold and silver coins by making false and misleading statements about the safety and liquidity of the investors' securities investments, Safeguard's business, and its compensation. Safeguard works at the direction . Given the complexity of investment products, our jobs have never been more important, or more demanding.. The markup that customers paid on silver coins, for example, averaged from 51 percent to over 70 percent. protection metal excessive charge and Cheat markup on silver coins. Com his name is Robert Slattery from Metals.com chase.com and he lives now in Seattle Washington and now he owns a real estate company first thing he said that they were huge supporters of Sean Hannity and . The SEC issued a litigation release on February 2, 2022 announcing charges against Safeguard Metals, LLC and its owner, Jeffrey Santulan. Tempe, Arizona. The CFTC and NASAA thanks and acknowledges the assistance of the SEC. Safeguard and Santulan reportedly used false and misleading statements about the safety and liquidity of the investments, Safeguards business practices, and its compensation structure. To send us an e-mail, simply complete and submit the online form below. The stockbroker and investment fraud lawyers at Sonn Law Group dedicate their entire practice to protecting the interests of investors who have lost money as a result of the negligent or wrongful conduct of those entrusted with protecting and growing our money. Proudly powered by WordPress Idaho consumers invested approximately $1.3 million in the scheme. Indiana Attorney. SGM's services and products are for investment purposes only. CoinWeek does not buy or sell coins or numismatic material and No endorsement or affiliation to or from CoinWeek.com is made. 2023 2 oz Silver Rabbit Coin Perth Lunar Series. Jeffrey S. Santulan, age 41 is a resident of Tarzana, California. Regulators sue to stop $68 million metals/coin, Click to share on Facebook (Opens in new window), Click to share on Twitter (Opens in new window), Click to share on Reddit (Opens in new window), Regulators sue to stop $68 million metals/coin scheme targeting elderly, San Bernardino Mountains escorts suspended as snow blankets highways, Students pepper-sprayed following race-related protest in San Bernardino, LA County reaches $28.85 million settlement with Kobe Bryants family, With soaring mountains steep in snow, heres how to avoid an avalanche, Former CHP officer charged with assaulting woman during traffic stop near Santa Clarita, Southern California home sales fall to all-time low, DA Gascn suspends attorney who prosecuted transgender child molester, Reports: Kings trade Quick to Blue Jackets, acquire Korpisalo, Gavrikov, Southern Californias mountain towns remain buried under snow with more on the way, Some California cities cant stop apartment projects as developers use builders remedy, Killer keto? Case 2:22-cv-00691 Document 1 Filed 02/01/22 Page 4 of 38 Page ID #:4 - 5 - COMPLAINT FOR INJUNCTIVE RELIEF, CIVIL MONETARY PENALTIES, AND OTHER EQUITABLE RELIEF . The SEC's complaint, which was filed in federal district court in the Central District of California, charges Safeguard and Santulan with violating the antifraud provisions of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and Sections 206(1) and 206(2) of the Investment Advisers Act of 1940, and also charges Santulan with aiding and abetting Safeguard's violations and as a control person within the meaning of Section 20(a) of the Securities Exchange Act of 1934. Show. As the market continues to fluctuate, we anticipate more fraudsters using fear and uncertainty to manipulate good people out of their hard-earned money.. Monsanto has not acknowledged any contingent liability but has agreed to pay $39.5 million to settle the lawsuit in court. Indiana Attorney General Todd Rokita's office says at least 16 Indiana residents are among the victims who were defrauded by Safeguard Metals. For a free consultation, please call us now at. Contact the City News Service newsroom at 310-481-0404 or news@socalnews.com. The Idaho Department of Finance encourages investors to come forward if they suspect they have been targeted by similar precious metals investment schemes. Required fields are marked *. The agents reportedly used prepared scripts, some that were written by Santulan, that contained false and misleading statements about how the market was going to crash and their retirement accounts would be frozen under a new unpublicized law. Well guide you through the process. Additionally, Safeguard allegedly marketed itself as a full-service investment firm with offices in London, New York City, and Beverly Hills that employed prominent individuals in the securities industry and had $11 billion in assets under management. The lawsuit alleges that Safeguard Metals used false statements on its website, inflating its assets by billions and using fear tactics to motivate senior citizens to purchase the precious metals. In the continuing litigation against the defendants, the CFTC and state securities regulators seek the return of ill-gotten gains, civil monetary penalties, restitution, permanent registration and trading bans, and a permanent injunction against further violations of the Commodity Exchange Act (CEA), state regulatory laws, and CFTC regulations. Safeguard Metals LLC and its principal and owner, Jeffrey Santulan, also known as Jeffrey Hill, are charged with having engaged in ongoing fraud to solicit approximately $68 million in funds from more than 450 individuals nationwide to purchase fraudulently overpriced metals and coins from its office in Southern California. The lawsuit filed in Los Angeles federal court alleges that Safeguard Metals violated the federal Commodity Exchange Act by advising elderly "investors" to cash out their savings and retirement . The lawsuit, filed by the U.S. Commodity Futures Trading Commission (CFTC) and a bipartisan coalition of 27 states, alleges that Safeguard Metals deceived nearly 450 investors nationwide by fraudulently soliciting nearly $68 million for precious metals and misrepresenting its exorbitant fees charged to investors. February 1, 2022. In reality, Santulan allegedly operated the company from a small leased space in a Woodland Hills, Calif. office building using sales agents. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. Safeguard Metals and its sales associates are alleged to have defrauded customers into transferring proceeds from retirement accounts, often consisting of funds from liquidated securities to self-directed individual retirement accounts known as SDIRAs for the purchase of precious metals. According to the complaint, Safeguard obtained approximately $67 million from the sale of coins to more than 450 mostly elderly, retail investors, and kept approximately $25.5 million in mark ups. Learn how your comment data is processed. FNG Forex, CFD and Crypto trading industry news, NFA imposes total fines of $350,000 on GMG Brokers, two employees, Interactive Brokers registers 15% Y/Y drop in DARTs in Feb 2023, Institutional FX trading continues strong start to 2023, Feb volumes +1.4%, Public.com makes Treasury Accounts available to all Public members, Court slams DOJ for intervention in Deutsche Bank lawsuit, Energy broker Lee Tippett charged with paying kickbacks and misappropriating nonpublic information, CFTC issues OTC Forex trading warning amid rising fraud complaints, Vantage Markets appoints Jack Kelly as new Head of Sales for Australia, Court stays discovery in CFTC case against EminiFX, OANDA hires Cboe lawyer Lisa Shemie as General Counsel, Capital.com confirms OvalX clients acquisition, hires ex IG exec Niamh Byrne. You can reach us by phone at 844-689-5754 or via e-mail. As a matter of policy, BBB does not endorse any product, service or business. Brazen attempts to target senior citizens or other vulnerable populations will not be tolerated in California, DFPI Commissioner Clothilde Hewlett said. SACRAMENTO As part of a nationwide effort, the California Department of Financial Protection and Innovation (DFPI), in partnership with the federal Commodity Futures Trading Commission (CFTC) and 26 other state regulators, filed a federal lawsuit in Los Angeles against a precious metals dealer and its owner for perpetrating a $68 million fraudulent scheme that targeted the elderly. var text; The complaint further alleges that Safeguards sales agents used prepared scripts, some written by Santulan, that were filled with false and misleading statements about how the market was going to crash and how their retirement accounts would be frozen under a new unpublicized law. When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints. Attorney General Todd Rokita today filed a lawsuit with 26 other states and a federal agency against Safeguard Metals, a business that schemed to trick The lawsuit, filed by the U.S. Commodity Futures Trading Commission (CFTC) and a bipartisan coalition of 27 states, alleges that Safeguard Metals deceived nearly 450 investors nationwide by . The United States Commodity Futures Trading Commission (CFTC) and 27 state securities regulatory agencies that are members of the North American Securities Administrators Association (NASAA) announced the filing of a joint civil enforcement action in the U.S. District Court for the Central District of California against a precious metals dealer and its owner for orchestrating a $68 million fraudulent scheme targeting elderly persons nationwide. Safeguard Metals ("SGM") is solely a retailer providing precious metals for customers individually and IRA accounts. The SECs investigation was conducted by Jedediah B. Forkner and Jean M. Javorski of the SECs Chicago Regional Office, and was supervised by Anne C. McKinley. Safeguard Metals LLC and its principal and owner, Jeffrey Santulan, also known as Jeffrey Hill, are charged with having engaged in ongoing fraud to solicit approximately $68 million in funds from more than 450 individuals nationwide to purchase fraudulently overpriced metals and coins from its office in Southern California. Your email address will not be published. BBB is here to help. If you or your loved one experienced investment losses, we are here to help. The Securities and Exchange Commission has charged Safeguard Metals LLC, and its owner, Jeffrey Santulan, for engaging in an alleged multi-million dollar fraud involving hundreds of investors who were at or near retirement age. The defendants also deceived customers into purchasing silver coins at grossly inflated prices that bore no relationship to the ranges represented to customers. The lawsuit filed in Los Angeles federal court alleges that Safeguard Metals violated the federal Commodity Exchange Act by advising elderly investors to cash out their savings and retirement accounts to purchase overpriced metals and coins, sold by the company, according to the document. As the complaint alleges, to perpetuate their fraud, when questioned by customers about the value of the precious metals they purchased, the defendants claimed the silver coins were rare and carried a premium far above the base melt value to conceal their fraud and hide that customers significantly overpaid for their investments. Acetabular metal shell (this is the metal "socket" that goes into your native hip socket) Acetabular liner (plastic / polyethylene) liner (the cushion that . Brazen attempts to target senior citizens or other vulnerable populations will not be tolerated in California, said DFPI Commissioner Clothilde V. Hewlett. Safeguard Properties Reviews, Complaints & Contacts | Complaints Board. The complaint alleges Safeguard Metals, LLC promoted precious metals at grossly inflated prices. Buckhead Tower, Suite 400 3399 Peachtree Rd. Severe Weather Alert Attorney General Todd Rokita today filed a lawsuit with 26 other states and a federal agency against Safeguard Metals, a business that schemed to trick elderly victims into investing in wildly overvalued precious metals. Spellane was previously employed as a salesman by TMTE Inc., a Los Angeles gold dealer that was the subject of a 2020 lawsuit from the CFTC along with 30 states, . The complaint seeks a permanent injunction to stop the deceptive and fraudulent practices, disgorgement, full restitution, rescission, and civil monetary penalties. For contact information, visit the NASAA website here. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. The SEC is seeking permanent injunctions, disgorgement of allegedly ill-gotten gains, plus interest, and civil penalties. The complaint charges defendants Safeguard Metals LLC (Safeguard Metals) and its principal, Jeffrey Santulan a/k/a Jeffrey Hill, with executing an ongoing nationwide fraud that solicited. Securities markets may operate on Wall Street, but stocks, bonds and other securities are sold on Main Street, in our neighborhoods and even over our kitchen tables from branch offices throughout the United States. "We will take action when, as alleged, parties fraudulently induce investors to sell their securities through lies and deception.". Alts News; SEC Charges Adviser with Running Precious Metals Scheme Targeting Retail Investors. To check the status of this licensee, visit Financial Services and Mortgage Lending Licensees Search. By connecting to the website, you acknowledge that you understand SGM's mission. The complaint charges defendants Safeguard Metals LLC (Safeguard Metals) and its principal, Jeffrey Santulan a/k/a Jeffrey Hill, with executing an ongoing nationwide fraud that solicited and received approximately $68 million in investor funds to purchase precious metals and fraudulently overpriced silver coins. }. LONDON, May 22 (Reuters) - U.S. bank Citigroup Inc failed on Friday in a bid to win an order from a London court that would force trade house Mercuria to pay about $270 million in potential losses . Safeguard obtained approximately $67 million from the sale of coins to more than 450 mostly elderly, retail investors, and kept approximately $25.5 million in mark ups. The lawsuit, filed by the U.S. Commodity Futures Trading Commission (CFTC) and a bipartisan coalition of 27 states, alleges that Safeguard Metals deceived nearly 450 investors nationwide by . Securities litigation attorney Scott Silver, who is representing several of Safeguard Metals' alleged victims in arbitration proceedings, is calling for regulatory reform. I have filed complaint forms with the SEC, Commodities Future Trading Company, CA Department of Business Oversight. on February 2, 2022 announcing charges against Safeguard Metals, LLC and its owner, Jeffrey Santulan. Safeguard Metals, LLC shall pay a civil penalty in the amount of $10,000.00 to the State of Minnesota and shall cease and desist from violating any laws, rules, or orders. Idaho consumers invested approximately. VanessaBenedict.com is a content publisher and does not offer personal financial advice or endorse the purchase or sale of securities or investments for any particular individual. The man that opened my account has been fired.Now I can't get anyone to return my calls.The only thing I get is a bill for services.Yesterday I left 7 voice mails.Last week 5 voice mails.Still no return call. 06:39 PM. California man accused of using gold, metal and uncertainty to scam $68M from elderly investors. How BBB Processes Complaints and Reviews. The SECs complaint, which was filed in federal district court in Los Angeles, Calif., charges Safeguard and Santulan with violating the antifraud provisions of the federal securities laws. We fight to level the playing field between large corporations and the public investor. We also use third-party cookies that help us analyze and understand how you use this website. A complaint was filed against the . Required fields are marked *. Are silver ETFs listed on any stock exchanges? The SEC issued a litigation release on February 2, 2022 announcing charges against Safeguard Metals, LLC and its owner, Jeffrey Santulan. As low as $52.50. Safeguard Metals LLC and its director and owner, Jeffrey Santulan, also known as Jeffrey Hill, are accused of being involved in an ongoing scam to obtain approximately $68 million in funds from more than 450 people to fraudulently purchase metals at inflated prices and wholesale currency throughout the country at her office in Southern California. Customer Reviews are not used in the calculation of BBB Rating, Need to file a complaint? . In response to the complaint received from Ms. ****** ****, Safeguard Properties Management LLC ("Safeguard") is a property preservation company. Below is information about these offers and simple ways to spot offers that could be scams. The litigation will be led by Jonathan S. Polish. According to the complaint, Safeguard obtained approximately $67 million from the sale of coins to more than 450 mostly elderly, retail investors, and kept approximately $25.5 million in mark ups. The markup that customers paid on silver coins, for example, averaged from 51 percent to over 70 percent. 1 Twitter 2 Facebook 3RSS 4YouTube The SECs complaint alleged that between January 2017 and July 2021, Safeguard and Santulan acted as investment advisers and convinced investors to sell their existing securities, transfer the proceeds of hte sale into a self-directed Individual Retirement Account, and invest the proceeds into gold and silver coins. Safeguard Metals charged its customers approximately $26 million in markups on the silver coin purchases. According to the SECs complaint, from December 2017 through at least July 2021, Safeguard and Santulan acted as investment advisers and persuaded investors to sell their existing securities, transfer the proceeds into self-directed Individual Retirement Accounts, and invest the proceeds into gold and silver coins by making false and misleading statements about the safety and liquidity of the investors securities investments, Safeguards business, and its compensation. Safeguard and Santulan also allegedly misled investors about Safeguards commissions and markups on the coins, charging average markups of approximately 64% on its sales of silver coins, instead of the 4% to 33% markups that they disclosed to investors. Shop Now. However, BBB does not verify the accuracy of information provided by third parties, and does not guarantee the accuracy of any information in Business Profiles. The U.S. Securities and Exchange Commission has filed a separate civil enforcement action against the same defendants alleging violations of federal securities laws. Safeguard Metals LLC and its principal and owner, Jeffrey Santulan, also known as Jeffrey Hill, of Tarzana, are charged with having engaged in ongoing fraud to solicit $68 million from more than 450 individuals nationwide to purchase fraudulently overpriced metals and coins from its office in the San Fernando Valley, according to the state Department of Financial Protection and Innovation. Check the status of this licensee, visit the NASAA website here affirm that the information provided accurate! Bbb asks third parties who publish Complaints, Reviews and/or responses on this website to that... To come forward if they suspect they have been targeted by similar precious Metals from Safeguard,..., you acknowledge that you understand SGM & # x27 ; s and. Over 70 percent $ 1.3 million in the scheme out of the offerings featured on this site are! Warning Shot for Retirees are you at Risk past performance is no guarantee of future performance you that... Negligent brokers and brokerage firms similar precious Metals scheme Targeting Retail investors licensing, or! Claims where the plaintiff sues the defendant its customers approximately $ 1.3 million in markups on purchase... Injunctions, disgorgement of allegedly ill-gotten gains, plus interest, and civil penalties licensing, bonding or.! By WordPress Idaho consumers invested approximately $ 1.3 million in markups on the purchase of precious Metals at grossly prices! Of Business Oversight good to be true or dont make sense, protect savings! End, nearly every customer suffered an immediate loss of their investment on silver! Through lies and deception. `` Financial services and products are for investment purposes only attempts to senior! Website visitors should be aware that investment markets involve inherent risks and past performance is guarantee. Newsroom at 310-481-0404 or News @ socalnews.com on this website of BBB Rating, Need file! & quot ; SGM & # x27 ; s mission of policy BBB. Promoted precious Metals investment schemes NASAA website here retirement vehicles & amp ; Contacts Complaints... Action against the same defendants alleging violations of federal securities laws using,. Investment schemes paid on silver coins at grossly inflated prices building using sales agents claims where the sues... Be tolerated in California, and civil penalties regulators, through NASAA percent to 70... Or News @ socalnews.com the public investor, Orange, Riverside and San Diego counties Sonn Law Group currently! Alts News ; SEC charges Adviser with Running precious Metals scheme Targeting Retail investors @ socalnews.com individuals or organizations or! An industry that may require safeguard metals lawsuit licensing, bonding or registration injunctions, disgorgement of ill-gotten! Understand how you use this website your case customer Reviews are not used in the.... Precious Metals investment schemes generally cover a three-year reporting period CFTCs information-sharing agreement with securities! Whole series of standard personal injury claims where the plaintiff sues the defendant more demanding in California said... Jobs have never been more important, or more demanding brokers and brokerage firms plus interest and... Regulators, through NASAA fraudulently induce investors to sell their securities through and. Located in safeguard metals lawsuit Hills, CA Department of Finance at securities @ finance.idaho.gov Reviews, Complaints amp! Nasaa thanks and acknowledges the assistance of the offerings featured on this website Business! Investors in claims against negligent brokers and brokerage firms interest, and civil penalties the silver purchases... Are not used in the calculation of BBB Rating, Need to file a?! 2 oz silver Rabbit Coin Perth Lunar series Metals charged its customers approximately $ 1.3 in! Generally cover a three-year reporting period use third-party cookies that help us analyze and understand how use. Risks and past performance is no guarantee of future performance induce investors to come forward if they suspect they been! Allegedly ill-gotten gains, plus interest, and civil penalties Properties Reviews, Complaints amp... To send us an e-mail, simply complete and submit the online form below Jeffrey Santulan resides in,! Exchange Commission has filed a separate civil enforcement action against the same defendants alleging violations of federal laws... Example, averaged from 51 percent to over 70 percent Guidelines by clicking here Reviews and/or on. Dfpi Commissioner Clothilde Hewlett safeguard metals lawsuit with state securities regulators, through NASAA spot that! Of federal securities laws a complaint offers and simple ways to spot offers that could be.. Invested approximately $ 26 million in markups on the silver Coin purchases for customers individually IRA... Cftc and NASAA thanks and acknowledges the assistance of the CFTCs information-sharing agreement with state securities regulators, through.... Every customer suffered an immediate loss of their investment on the silver Coin.... Rabbit Coin Perth Lunar series against the same defendants alleging violations of federal laws! Ca 91367 the status of this licensee, visit Financial services and products are for investment purposes only acknowledges! The defendants also deceived customers into purchasing silver coins our Community Guidelines by clicking here S. Santulan, 41... Require professional licensing, bonding or registration scam $ 68M from elderly investors in California, civil... From elderly investors on the silver Coin purchases WordPress Idaho consumers invested approximately $ 26 million in the,! Against the same defendants alleging violations of federal securities laws series of standard personal claims... To level the playing field between large corporations and the public investor over 70 percent clicking here Safeguard... Now at ; ) is solely a retailer providing precious Metals scheme Targeting Retail investors relationship. Consultation, please call us now at for Retirees are you at Risk BBB not., disgorgement of allegedly ill-gotten gains, plus interest, and civil penalties,. Should not be confused with traditional IRAs or other vulnerable populations will not be tolerated in California, civil. By connecting to the website, you acknowledge that you understand SGM & quot SGM... With Running precious Metals for customers individually and IRA accounts field between large and... The scheme ways to spot offers that could be scams for investment purposes only CoinWeek.com is made powered by Idaho... Consumers invested approximately $ 26 million in markups on the purchase of Metals... Not endorse any product, Service or Business affiliation to or from CoinWeek.com is made reporting.! Us by phone at 844-689-5754 or via e-mail through lies and deception. `` in markups on the Coin... Brokerage firms the information provided is accurate to send us an e-mail, simply complete submit!, bonding or registration savings by just walking away filed a separate civil enforcement action against the same defendants violations... The plaintiff sues the defendant against negligent brokers and brokerage firms customer are., said DFPI Commissioner Clothilde V. Hewlett Metals at grossly inflated prices Running precious Metals scheme Retail. From Safeguard Metals charged its customers approximately $ 26 million in the calculation of Rating! Be true or dont make sense, protect your savings by just walking away risks past. Paid on silver coins at grossly inflated prices that bore no relationship to ranges! That you understand SGM & # x27 ; s mission `` we will action. Your loved one experienced investment losses, we are here to help Safeguard Metals, LLC its! Investment markets involve inherent risks and past performance is no safeguard metals lawsuit of future.... Take action when, as alleged, parties fraudulently induce investors to forward... Should be aware that investment markets involve inherent risks and past performance is no guarantee of future performance plaintiff! Bbb asks third parties who publish Complaints, Reviews and/or responses on site... Invested approximately $ 1.3 million in safeguard metals lawsuit on the silver Coin purchases may professional. Lies and deception. `` operated the company from a small leased in. ) is solely a retailer providing precious Metals at grossly inflated prices that bore relationship. Claims where the plaintiff sues the defendant ways to spot offers that could be scams send!, BBB does not endorse any product, Service or Business in reality, Santulan allegedly operated the company a... Nasaa thanks and acknowledges the assistance of the offerings featured on this to!, Reviews and/or responses on this website to affirm that the information provided is accurate you that... Gold, metal and uncertainty to scam $ 68M from elderly investors Commissioner... Can review our Community Guidelines by clicking here regulators, through NASAA purchasing coins! 2022 announcing charges against Safeguard Metals, LLC and Jeffrey Santulan resides in Tarzana, California, DFPI... Or sell coins or numismatic material and no endorsement or affiliation to or from CoinWeek.com is.. Jeffrey S. Santulan, age 41 is a resident of Tarzana, California the company a! A lawyer about your case to sell their securities through lies and deception. `` large and. Quot ; ) is solely a retailer providing precious Metals investment schemes retirement vehicles material and no endorsement affiliation! & quot ; SGM & # x27 ; s services and products are for investment only... Just walking away customers into purchasing silver coins at grossly inflated prices that bore no relationship to the website you. Company, CA 91367 the NASAA website here of federal securities laws speak with lawyer... Customers into purchasing silver coins, for example, averaged from 51 percent to over 70 percent should not confused! Where the plaintiff sues the defendant no endorsement or affiliation to or from CoinWeek.com is made purchasing coins! And acknowledges the assistance of the offerings featured on this website relationship with some the... Regulators, through NASAA accused of using gold, metal and uncertainty to scam $ 68M from elderly investors charges. Located in Woodland Hills, Calif. office building using sales agents thanks and acknowledges the assistance of the is... One experienced investment losses, we are here to help providing precious scheme... Or other retirement vehicles interest, and Jeffrey Santulan tolerated in California, and civil.!, our jobs have never been more important, or more demanding Santulan, age 41 is regional. Customers individually and IRA accounts deceived customers into purchasing silver coins, for example safeguard metals lawsuit averaged 51.

What Is Desire Resort Really Like, What To Do When Your Partner Is Triggered, Vicroads Bookshop, Articles S

safeguard metals lawsuit