*Our firm, in some cases, advance costs and expenses of the case, and in that event, are recovered from the gross recovery of any settlement or verdict. In reality, Santulan allegedly operated the company from a small leased space in a Woodland Hills, Calif. office building using sales agents. Securities Arbitration Attorneys Our FINRA arbitration lawyers work with investors to recover losses caused by securities fraud, investment fraud, and other kinds of stockbroker misconduct. The lawsuit which includes the state of California among plaintiffs alleges that Safeguard Metals used false statements on its website, inflating its assets by billions and using fear tactics to motivate senior citizens to purchase the precious metals. In reality, Santulan allegedly operated the company from a small leased space in a Woodland Hills, Calif. office building using sales agents. Indiana Attorney General Todd Rokita has joined a lawsuit with 26 other states and a federal agency against Safeguard Metals, a business accused of scheming to trick seniors into investing in "wildly overvalued precious metals," according to a statement released by the AG's Office on Tuesday, Feb. 1. text = text.replace("https://docqnet.dfpi.ca.gov/LicenseSearch","https://portal.dfpi.ca.gov/csp?id=ssp_license_search"); The CFTC and NASAA thanks and acknowledges the assistance of the SEC. The complaint further alleges that Safeguard's sales agents used prepared scripts, some written by Santulan, that were filled with false and misleading statements about how the market was going to crash and how their retirement accounts would be frozen under a new 'unpublicized' law. You can review our Community Guidelines by clicking here. The following information is designed to notify you about tricky promises of easy profits from rising prices in precious metals such as gold, silver, palladium, and platinum. The litigation will be led by Jonathan S. Polish. 1, Report #1485959. The Securities and Exchange Commission today announced charges against Safeguard Metals LLC, and its owner, Jeffrey Santulan, for engaging in a multimillion dollar fraudulent scheme involving hundreds of investors who were at or near retirement age. His demeanor was professional and pleasant and I would not hesitate to use him in future matters. The Commodity Futures Trading Commission (CFTC) and 27 state securities regulatory agencies that are members of the North American Securities Administrators Association (NASAA) announced the filing of a joint civil enforcement action in the U.S. District Court for the Central District of California against a precious metals dealer and its owner for orchestrating a $68 million fraudulent scheme targeting elderly persons nationwide. Alts News; SEC Charges Adviser with Running Precious Metals Scheme Targeting Retail Investors. Safeguard Metals is a scam designed to take advantage of those not experienced in buying precious metals. My broker is in Woodland Hills, CA 91367. The SEC appreciates the assistance of the Commodities Futures Trading Commission and state regulators that are members of the North American Securities Administrators Association. The suit alleges that the company and its owner misrepresented their credentials and advised customers that the precious metals were a safe and conservative investment, compared to traditional retirement accounts that sales associates acting at the direction of the company claimed individuals could be frozen out of if the stock market were to crash. Save my name, email, and website in this browser for the next time I comment. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This site uses Akismet to reduce spam. If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile. Acetabular metal shell (this is the metal "socket" that goes into your native hip socket) Acetabular liner (plastic / polyethylene) liner (the cushion that . In the continuing litigation against the defendants, the CFTC and state securities regulators seek the return of ill-gotten gains, civil monetary penalties, restitution, permanent registration and trading bans, and a permanent injunction against further violations of the Commodity Exchange Act (CEA), state regulatory laws, and CFTC regulations. The Securities and Exchange Commission today announced charges against Safeguard Metals LLC, and its owner, Jeffrey Santulan, for engaging in a multi-million dollar fraudulent scheme involving hundreds of investors who were at or near retirement age. Restitution is being sought through a federal lawsuit filed . BBB is here to help. "I spoke to Mr Sonn on a complex legal matter. Do THIS Or Pledge Your Retirement To The Democrats, ALERT: Secret IRS Loophole May Change Your Life. BBB Business Profiles may not be reproduced for sales or promotional purposes. | To check the status of this licensee, visit Financial Services and Mortgage Lending Licensees Search. companies or divisions. A cross-agency approach enhances our ability to protect investors and the integrity of our markets.. If you have further questions or need more assistance, please call the DFPI's Consumer Services Office at: 1-866-275-2677. var allPs = document.getElementsByTagName("p"); The Securities and Exchange Commission today announced charges against Safeguard Metals LLC, and its owner, Jeffrey Santulan, for engaging in a multi-million dollar fraudulent scheme involving hundreds of investors who were at or near retirement age. A Ruling That Could End the Internet as We Know . In the end, nearly every customer suffered an immediate loss of their investment on the purchase of precious metals from Safeguard Metals. Securities markets may operate on Wall Street, but stocks, bonds and other securities are sold on Main Street, in our neighborhoods and even over our kitchen tables from branch offices throughout the United States. Share your feedback. CoinWeek: Rare Coin, Currency, and Bullion News for Collectors, This joint investigative effort between the CFTC and 27 state regulators represents our mutual interest in protecting main street investors,, A cross-agency approach enhances our ability to protect investors and the integrity of our markets., This action to stop a large-scale precious metals scheme is the latest in an ongoing effort by state and federal regulators working cooperatively to protect investors. SGM's services and products are for investment purposes only. Your email address will not be published. According to the SECs complaint, from December 2017 through at least July 2021, Safeguard and Santulan acted as investment advisers and persuaded investors to sell their existing securities, transfer the proceeds into self-directed Individual Retirement Accounts, and invest the proceeds into gold and silver coins by making false and misleading statements about the safety and liquidity of the investors securities investments, Safeguards business, and its compensation. Safeguard's website pitches the investments as a way to "hedge against uncontrolled government spending and dizzying money printing by the Federal Reserve." Safeguard Metals, LLC | The Department of Financial Protection and Innovation Safeguard Metals, LLC License or Case Number : Date of Initial Action: 02/01/22 Defendants/Respondents: Safeguard Metals, LLC; Santulan, Jeffrey aka Hill, Jeffrey Documents: 02/01/22 - Complaint (PDF) About the Licensee status We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. for(i=0;i Is Caleb Serong Related To Bill Serong, Articles S