For the third time in the last few weeks, the CFTC has taken action against precious metal investors. American Precious Metals, LLC is the latest business to be shut down in this review of precious metal investments. These corporations have been extending Ponzi scheme style investments in precious metals. Gold, silver, palladium, and other precious metals were sold, fraudulently, as investments by these businesses. People have invested personal loans just to lose money.
American Precious Metals LLC lawsuit
American Precious Metals LLC was a company based in Lake Worth, Florida. Consumers were pressured by telemarketers into purchasing gold, silver, platinum and palladium investments being sold. The consumer could get financing from the business, according to the salespeople, and would get the physical metals stored also. A huge down payment was required though. The business also would give a huge return on the investment. They promised several hundred percent returns. The business gave individuals short-term loans for investment in very special metals. Still, these metals did not really exist. The business never registered as an investment business with the FTC or CFTC either. The company violated the Telemarketing and Customer Fraud and Abuse Prevention Act and didn't follow precious metal regulation. The company's assets have been frozen now.
Increase in precious metal costs
Precious metal investment scams have become more prevalent recently. This is because there has been an increase in the precious metals price tags. In the last year, the per-ounce price of gold has gone from less than $1,200 to more than $1,500. Silver and other precious metals have experienced a comparable price jump. This is partially because precious metals are often viewed as a "safe haven" when worldwide currencies are weakening. Some say the costs of precious metals are so far above their "real" value that they're getting close to bubble status.
Guarding yourself when investing
Investing isn't always safe. It can be dangerous in fact. You are able to get your own precious metals and store them. No matter how you choose to invest, always work with businesses that have been vetted by the Better Business Bureau. Any business that cannot be verified with the FTC or Commodity Futures Trading Commission should not be invested in.
American Precious Metals LLC lawsuit
American Precious Metals LLC was a company based in Lake Worth, Florida. Consumers were pressured by telemarketers into purchasing gold, silver, platinum and palladium investments being sold. The consumer could get financing from the business, according to the salespeople, and would get the physical metals stored also. A huge down payment was required though. The business also would give a huge return on the investment. They promised several hundred percent returns. The business gave individuals short-term loans for investment in very special metals. Still, these metals did not really exist. The business never registered as an investment business with the FTC or CFTC either. The company violated the Telemarketing and Customer Fraud and Abuse Prevention Act and didn't follow precious metal regulation. The company's assets have been frozen now.
Increase in precious metal costs
Precious metal investment scams have become more prevalent recently. This is because there has been an increase in the precious metals price tags. In the last year, the per-ounce price of gold has gone from less than $1,200 to more than $1,500. Silver and other precious metals have experienced a comparable price jump. This is partially because precious metals are often viewed as a "safe haven" when worldwide currencies are weakening. Some say the costs of precious metals are so far above their "real" value that they're getting close to bubble status.
Guarding yourself when investing
Investing isn't always safe. It can be dangerous in fact. You are able to get your own precious metals and store them. No matter how you choose to invest, always work with businesses that have been vetted by the Better Business Bureau. Any business that cannot be verified with the FTC or Commodity Futures Trading Commission should not be invested in.
About the Author:
How often have you needed additional information on where to find a quick cash advance, and resorted to a web search on "cheap payday loan?" Look no further, all of the information and facts you'll need is at www.MatchFinancial.com!
No comments:
Post a Comment