Colorado Division of Securities joins with CFTC to stop nationwide precious metals IRA, bullion coin scheme that solicited more than $185 million from defrauded senior investors
DENVER – The Colorado Division of Securities, a division of the Department of Regulatory Agencies (DORA), announced today that it is part of a consolidated nationwide enforcement action to disrupt a fraudulent precious metals scheme that has allegedly solicited more than $185 million from seniors and other investors.
On Tuesday, September 22, 2020, the Colorado Division of Securities, with the assistance of the Colorado Attorney General, the U.S. Commodity Futures Trading Commission, and 29 other states, filed a petition in the U.S. District Court for the Northern District of Texas alleging that Metals.com “had a reckless disregard for the truth” and that “virtually every one of their … investors … lost the majority of the funds invested in fraudulently overpriced Precious Metals Bullion.”