LITIGATION DEPARTMENT OF THE YEAR - Mid-Size Firm  ALM's Daily Report  

Alleged Gold Scammer Has Started a New Gold Sale Business

Citywire USA
October 4, 2022

Partner Aaron Cohn is mentioned in an article highlighting a new precious metals company based in Los Angeles, California that is owned by Jeffrey Santulan, the same person that is subject to two lawsuits brought by the SEC, CFTC and 27 States for ripping off clients of his other firm, Safeguard Metals. As alleged in those lawsuits, Safeguard Metals claimed to charge markups or spreads of between 4% and 23% on gold and silver coins, but actually charged an average markup of 64% and, in some cases, as much as 100% -- taking more than $67 million through the scheme. According to the article, the new precious metals firm, Alliance Shield, appears to be running a similar precious metals sales business.

Cohn and co-counsel are pushing for awards against Safeguard Metals that would make investors whole, including legal fees, interest and punitive damages due to the company’s efforts to defraud investors.

Read full article here.   

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