Help us improve the DFPI website! By clicking Accept, you consent to the use of ALL the cookies. 2023 2 oz Silver Rabbit Coin Perth Lunar Series. SACRAMENTO - California Attorney General Rob Bonta today filed a motion to intervene in the Los Angeles City Attorney's lawsuit against S&W Atlas Iron & Metal Company (Atlas Metal) for endangering the health and safety of environmental justice communities in South Los Angeles.Over several years, Atlas Metal's operations are alleged to have been launching metal shards and projectiles into . If you would like to share a story idea, please submit it here. As low as $52.50. 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. In a simultaneous filing, the SEC commenced a suit against Safeguard Metals LLC and Jeffrey Santulan for violations arising from the fraudulent precious metals scheme and exorbitantly priced silver coins and for rendering unlawful investment advice. Exactech Recall Lawsuit in Lisbon, IL. protection metal excessive charge and Cheat markup on silver coins. In reality, Santulan allegedly operated the company from a small leased space in a Woodland Hills, Calif. office building using sales agents. "I spoke to Mr Sonn on a complex legal matter. Indiana Attorney General Todd Rokita's office says at least 16 Indiana residents are among the victims who were defrauded by Safeguard Metals. Division of Consumer Financial Protection, Division of Corporations and Financial Institutions, Licensee & Financial Service Provider Search, Actions, Order and Administrative Hearing Decisions, Central Locations for Service of Legal Process, Office of Financial Technology Innovation, Financial Services and Mortgage Lending Licensees Search, Licensees and Industries Regulated by the DFPI, Actions, Orders and Administrative Hearing Decisions. The following information is designed to notify you about tricky promises of easy profits from rising prices in precious metals such as gold, silver, palladium, and platinum. BBB Business Profiles are subject to change at any time. Safeguard Metals continued charging customers a markup on Silver Coins that still exceeded the maximum possible markup disclosed to customers by nearly 10% on average. The Sunday Read: 'Elon Musk's Appetite for Destruction'. . Thurston, Teply and a third Idaho Safeguard distributor, Craig Empey, of Idaho Falls, who was not involved in the lawsuit, had combined annual sales of $1.82 million. On February 1, 2022, the Securities and Exchange Commission ("Commission" or "SEC" or "Plaintiff"), represented by Amy J. Longo, Jedediah B. Forkner and Jonathan S. Polish, attorneys at the SEC's Los Angeles regional office, filed a civil enforcement action against Safeguard Metals LLC and Jeffrey S. Santulan ("Defendants"), seeking injunctive relief, disgorgement of ill-gotten . Nationally, at least 450 investors paid . Division of Consumer Financial Protection, Division of Corporations and Financial Institutions, Licensee & Financial Service Provider Search, Actions, Order and Administrative Hearing Decisions, Central Locations for Service of Legal Process, Office of Financial Technology Innovation, Press Releases 2009 - 2013 (Dept of Corporations), Press Releases 2001 - 2013 (Dept of Financial Institutions). To check the status of this licensee, visit Financial Services and Mortgage Lending Licensees Search. You can reach us by phone at 844-689-5754 or via e-mail. New York, New York Attorney General Letitia James TODAY filed suit against a precious metals company Safeguard Metals LLC and its owner and manager, Jeffrey Santulan, also known as Jeffrey Hill, for defrauding investors including several seniors in New York and across the country., The lawsuit, filed by the US . The SEC's investigation was conducted by Jedediah B. Forkner and Jean M. Javorski of the SEC's Chicago Regional Office, and was supervised by Anne C. McKinley. You also have the option to opt-out of these cookies. 06:39 PM. Theme: Newsup by Themeansar. In October 2020, the Department partnered with other regulators to pursue action against another precious metals dealer, TMTE Inc., also known as Metals.com, Chase Metals, and Barrick Capital. In response to the complaint received from Ms. ****** ****, Safeguard Properties Management LLC ("Safeguard") is a property preservation company. Idaho will continue to partner with fellow regulators to vigorously fight to protect consumers from this and other schemes to defraud," Perkins said. Drug distributors, J&J to pay $590 mln to settle U.S. tribes' opioid claims REUTERS Safeguard works at the direction . on February 2, 2022 announcing charges against Safeguard Metals, LLC and its owner, Jeffrey Santulan. 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. For contact information, visit the NASAA website here. BBB is here to help. The complaint alleges that Safeguard Metals and Santulan perpetrated an ongoing fraud to solicit approximately $68 million from over 450 individuals nationwide to purchase precious metals and coins, including that Safeguard Metals made false statements on its website, inflated its assets by billions, and used fear tactics to motivate senior The defendants are also accused of failing to disclose the markup charge to investors and the risk of losing most of their investment funds. Brazen attempts to target senior citizens or other vulnerable populations will not be tolerated in California, said DFPI Commissioner Clothilde V. Hewlett. 2023 DISCLAIMER: All content within CoinWeek.com is presented for informational purposes only, with no guarantee of accuracy. Questions? The litigation will be led by Jonathan S. Polish. BBB Business Profiles generally cover a three-year reporting period. We represent investors in claims against negligent brokers and brokerage firms. Summerlin, Nevada. But opting out of some of these cookies may affect your browsing experience. He was direct and asked all the questions that were relevant and provided me with very thoughtful feedback and some useful contacts. The lawsuit which includes the state of California among plaintiffs 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. The SEC issued a litigation release on February 2, 2022 announcing charges against Safeguard Metals, LLC and its owner, Jeffrey Santulan. This is a whole series of standard personal injury claims where the plaintiff sues the defendant. document.getElementsByTagName('p').innerHTML = text; 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. BBB Business Profiles are provided solely to assist you in exercising your own best judgment. The Idaho Department of Finance encourages investors to come forward if they suspect they have been targeted by similar precious metals investment schemes. 6LinkedIn 8 Email Updates. Share your feedback. We strive to use common sense and the right approach to maintain objectivity in providing recommendations that are in the interests of readers. A companys registration status can be found at NFA BASIC. We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. EEO Report | Terms of Use | Privacy Policy | Community Guidelines | About Us | FCC Applications |, Daily News Update "-Sonn Law Group Client. These cookies will be stored in your browser only with your consent. Severe Weather Alert Shop Now. In the context of bodily injury legal claims, a class action is a cover where a large number of people who have actually suffered the same or similar harm form a legitimate group that you are simply bringing a civil action against, usually against someone or several different individuals. In reality, Santulan allegedly operated the company from a small leased space in a Woodland Hills, Calif. office building using sales agents. We provide detailed analysis for Gold IRAs and Silver IRAs. All News, Articles, Commentary and Opinions are contributed by the author(s), with or without compensation, who are solely responsible for the content, and do not represent CoinWeek Management. These cookies do not store any personal information. The metals.com scheme affected 1600 seniors nation-wide and involved $185 million. In this case, it was silver coins. Restitution is being sought through a federal lawsuit filed . Buckhead Tower, Suite 400 3399 Peachtree Rd. The SEC also alleged that Safeguard and Santulan represented 4% to 33% markups, but actually charged average markups of approximately 64% on its sale of silver coins. It is important to speak with a lawyer about your case. The complaint charged Safeguard and Santulan with violations of 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. 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 . In a simultaneous filing, the SEC commenced a suit against Safeguard Metals LLC and Jeffrey Santulan for violations arising from the fraudulent precious metals scheme and exorbitantly priced silver coins and for rendering unlawful investment advice. 01/23/2023. In fact, the silver coins were significantly less valuable than the defendants claimed, based on the resale prices the firm marketed and promoted. for(i=0;i
