Silver Law Group is investigating Safeguard Metals on behalf of investors that have losses with the company’s precious metals IRAs or other accounts.
Safeguard Metals is a Southern California-based company that sells investors self-directed retirement accounts that hold gold and silver. The company’s website pitches precious metals investing as a way to “hedge against uncontrolled government spending and dizzying money printing by the Federal Reserve.”
Though precious metals investors hope to earn a return, or at least preserve their assets, they often suffer incredible losses. Silver Law Group has been contacted by Safeguard Metals investors who have lost more than 60% of their money in less than two years.
Precious Metals Investors May Pay High Fees For Their Investment
Investors are often sold precious metals by salespeople who reinforce their fears about a stock market collapse, recession, or other changes in the national and world economy that would lead to an increase in the value of gold and silver.
Investors, many of whom are seniors that have built their nest egg over decades, often hand over hundreds of thousands or millions of their hard-earned dollars. After creating their account, the investors find that their metal is only worth a fraction of what they paid for it.
And the reason for their losses has little to do with the fluctuation in price of gold and silver, and much more to do with the outrageously inflated prices they paid for the metals held in their account.
Unbeknownst to investors, the fine print of their customer agreement disclosed some of the unfavorable terms, and the requirement to take disputes to costly arbitration forums may prevent them from attempting to recover their losses.
Silver Law Group Represents Precious Metals Investors
Silver Law Group has represented many investors across the country who have lost money in precious metals in a variety of ways. One company called Worth Group/Treasure Coast Bullion sold investors on a leveraged metals investing program in which they borrowed against the metals they owned to earn a higher return if the metals went up in price.
When the price of silver changed in March, 2020 many of these investors lost their entire account, including the underlying metal that they believed was secure. Silver Law Group represents victims who lost their investment with Worth Group and Treasure Coast Bullion. Our clients allege that the companies violated CFTC rules and regulations, misrepresented the investment, and breached fiduciary duty.
Did You Lose Money Investing With Safeguard Metals?
Silver Law Group’s attorneys have significant experience representing investors who suffered losses from precious metals investments and scams, numismatic coin frauds, and in claims against firms that recommended inappropriate investments in precious metals.
If you or someone you know invested with Safeguard Metals, contact Silver Law Group today for a confidential consultation at (800) 975-4345 or email firstname.lastname@example.org.