Gold Scam Bilks $37M from Investors
Posted in Main Blog (All Posts) on May 20th, 2011 4:48 am by HL
Gold Scam Bilks $37M from Investors
The gold-investment company American Precious Metals has been accused of targeting investors — particularly senior citizens — across the country with a combination of high-pressure and illegal sales tactics and misleading and fraudulent claims. The approach worked well enough to bilk as much as $37 million from investors, according to court documents filed this month in U.S. District Court by the Federal Trade Commission. Federal agencies that shut down American Precious Metals this month allege that the company never purchased any physical quantities of any precious metal.