Secretary Watson and I joined the Commodity Futures Trading Commission (CFTC) and 29 other states in filing a complaint in the U.S. District Court for the Northern District of Texas alleging Metals.com and Barrick Capital Inc. solicited $185 million from 1,600 seniors and other vulnerable people nationwide, including over $350,000 from Mississippians, by touting precious metals at grossly inflated prices that were not disclosed.
This coordinated state and federal action to stop the company’s efforts to prey on elderly investors is the result of a multi-state collaboration by members of the North American Securities Administrators Association (NASAA) and the Commodity Futures Trading Commission’s Office of Cooperative Enforcement.
If you suspect you have been targeted by similar precious metals investment schemes, please contact the Secretary of State’s Securities Division at (601)359-1334.
Read more about the complaint
here.