Michael Watson

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ATTENTION INVESTORS – Metals.com, Tower Equity, Chase Metals, and Barrick Capital Receivership Claim Deadline 

JACKSON – The Mississippi Secretary of State’s Office, other state regulators, and the Commodity Futures Trading Commission recently filed a joint civil enforcement action against Metals.com, Tower Equity, Chase Metals, Barrick Capital, and other associated parties. We accused the defendants of perpetrating a fraudulent precious metals investment scheme. The case is significant, as it allegedly involves 1,600 investors and more than $185 million in customer funds.

The United States District Court for the Northern District of Texas entered an injunction and a restraining order freezing the assets of the defendants. It also appointed Kelly Crawford as Receiver. In this role, he will be responsible for marshaling assets of the defendants and act as a relief defendant for the benefit of defrauded clients.

The Receiver will begin administering the claims process soon. In the coming months, the Receiver will submit the claims to the court for approval to start distributing the remaining money to defrauded clients. As part of the process, he will be sending correspondence, instructions, and a claims form. Defrauded clients must complete and return their claims forms to the Receiver to participate in the claims process and request a return of the remaining available money.

“Our office is committed to holding bad actors accountable for the harm caused to Mississippians, and we will continue to do our best to provide relief for victims of illegal scams,” said Secretary Michael Watson. “Our Securities team is ready to assist defrauded investors as they navigate the claims process and request a return of their hard-earned money.”

THE DEADLINE TO RETURN THE CLAIM FORM IS APRIL 30, 2021. Defrauded clients should direct questions about the claims process to the Receiver by emailing kelly.crawford@solidcounsel.com or calling (214) 706-4213.

Click here for additional information
about the claims process.

MageeNews.com is an online news source covering Simpson and surrounding counties as well as the State of Mississippi.



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