Silver Law Group is representing investors who suffered losses after investing in Worth Group’s and/or Treasure Coast Bullion Group’s leveraged silver program, sometimes referred to as the “Midas Program”. Worth Group and Treasure Coast operated nationwide through a network of salesmen who called investors to convince them to invest in precious metals.
Silver Law Group is currently representing victims who lost their entire investment of precious metals and Silver Law Group’s attorneys are continuing to investigate additional potential claims against Worth Group and Treasure Coast.
Investors’ Funds Were Wiped Out In March 2020
Many investors with Worth Group and/or Treasure Coast were convinced not only to purchase precious metals—usually silver—but also to invest in additional metals on “margin” or on a “leveraged basis”. Investors are alleging that they were promised more upside by purchasing silver on margin with minimal risk. Unfortunately, in March 2020, after a fluctuation in silver, many investors who purchased precious metals on this leveraged basis were wiped out, losing their entire investment.
Silver Law Group is investigating the nature of this wipeout event, as well as whether Worth Group and Treasure Coast investors were charged unfairly high commissions and fees, above and beyond the spot price for the silver they were purchasing, which magnified their losses.
Worth Group’s Regulatory History
Worth Group has had regulatory issues in the past. In 2013, Worth Group was sued by the Commodity Futures Trading Commission (CFTC), for conducting leveraged precious metals transactions in a manner that violated commodities laws. The case resulted in a permanent order prohibiting Worth Group from violating the Commodity Exchange Act in the future. The CFTC has also pursued other firms engaged in similar activities over the past several years.
Investors Are Alleging That Worth Group And Treasure Coast Violated Commodities Laws, Among Other Things
Silver Law Group’s current clients are alleging that Worth Group and Treasure Coast violated CFTC rules and regulations, and that some of Worth Group and Treasure Coast’s salesmen engaged in fraud, misrepresentation, and breach of fiduciary duty.
Investors have lost millions of dollars after investing with Worth Group and Treasure Coast, despite Worth Group’s and Treasure Coast’s advertisements that these investments were safe and appropriate for retirement.
Risks Of Investing In Precious Metals
Generally, investing in precious metals can be very risky. There are many companies and individuals who advertise on television and the internet making promises that investing in precious metals can be very profitable and safe. However, the reality is that these investments are highly speculative and some firms, like Worth Group and Treasure Coast, lack transparency about the commissions and fees they charge. For more information about the CFTC’s guidance about precious metals investing, see Silver Law Group’s page about precious metals fraud or visit the CFTC’s website.
Did you lose money investing with Worth Group or Treasure Coast Bullion Group?
Silver Law Group’s attorneys currently represent Worth Group and Treasure Coast victims, and have significant experience representing investors who suffered losses from precious metals scams, numismatic coin frauds, and in claims against firms that recommended inappropriate investments in precious metals. If you or someone you know invested with Worth Group and/or Treasure Coast, contact Silver Law Group today for a confidential consultation at (800) 975-4345 or email firstname.lastname@example.org.