SEC v. Safeguard Metals LLC and Jeffrey Ikahn

Safeguard Metals LLC and Jeffrey Ikahn allegedly operated a multi-million-dollar fraudulent scheme involving the sale of gold and silver coins to hundreds of investors who were at or near retirement age. According to the SEC’s amended complaint, Safeguard and Ikahn acted as unregistered 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.

Summary generated from official Securities and Exchange Commission press release