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Top related persons:
Higgins - 2 Robert Leroy Higgins - 1 Multichain - 1 Read - 1 Robert Higgins - 1 — - 1 Prateek Gupta - 1
Top related locs:
Rotterdam Wall Silicon Netherlands Delaware Singapore
Top related orgs:
Service - 2 Asset - 2 Depository Company - 2 London Metal Exchange - 2 Eagle - 1 CFTC - 1 JPMorgan - 1 Commodities Futures Trading Commission - 1

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2 mentions found


☆ The curious cases of the nonexistent silver coins, vanishing crypto, and stones in place of nickel – 3 bizarre investment frauds of 2023
  + stars: | 2023-07-14 | by ( Joseph Wilkins | ) www.businessinsider.com   time to read: +4 min
As in previous years, the world of investments has continued to see several frauds and scandals come to light in 2023. Some of the more peculiar cases involved missing silver coins, untraceable crypto, and bags filled with stones instead of nickel. Blockchain analytics firm Chainalyis has sounded the alarm on a possible inside-job by members of staff – linking the disappearance of its founder with the missing coins. London Metal Exchange-approved contracts are regarded as the gold standard for metal investors and this mix-up called the security of the prestigious market into question. Read more: Over half a million silver coins just vanished – now the metals dealer behind the 'fraudulent' scheme must pay $146 million
Persons: Robert Leroy Higgins, Higgins, Multichain, Read Organizations: Service, Eagle, Asset, Depository Company, CFTC, JPMorgan, London Metal Exchange Locations: Wall, Silicon, Rotterdam, Netherlands
☆ Over half a million silver coins just vanished – now the metals dealer behind the 'fraudulent' scheme must pay $146 million
  + stars: | 2023-07-04 | by ( Joseph Wilkins | ) www.businessinsider.com   time to read: +2 min
A precious metals dealer has been asked to pay up $146 million in damages after over half a million silver coins went missing. Robert Higgins ran a "fraudulent and deceptive scheme" linked to the purchase and sale of precious metals, the CFTC said. From 2014 to 2022, Higgins led a 'fraudulent silver leasing program' that took deposits from almost 200 customers. Higgins ran a "fraudulent and deceptive scheme", and was ordered to pay $113 million to clients and $33 million in penalties, according to the CFTC. The precious metals industry has seen a series of scams in recent times.
Persons: Robert Higgins, Higgins, —, Prateek Gupta Organizations: Service, Commodities Futures Trading Commission, Asset, Depository Company, US Treasury, London Metal Exchange Locations: Delaware, Rotterdam, Singapore
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