$1.06 Million Arbitration Award Secured by WWHGD in a Fraud/Misrepresentation Case Against a California-Based Precious Metals Broker

Weinberg Wheeler Hudgins Gunn & Dial partner, Aaron Cohn, secures a $1.06 million arbitration award in a fraud/misrepresentation case he prosecuted against a precious metals broker and its owner in California.

The case arose from the client’s decision to invest his 401k retirement accounts into precious metals coins in 2019. The broker used materially false and misleading statements through its website and on calls to induce the client to invest in coins that purportedly had numismatic or semi-numismatic value. Additionally, they provided biased and self-interested investment advice, misrepresented and concealed mark-ups, and provided materially false and inflated valuations of the client’s account. The owner of the precious metals brokerage company was held liable on an alter ego theory of liability.