Originally Syndicated on May 17, 2024 @ 5:07 am
Alliance Shield LLC asserts that the company has been in the press for an extended period of time due to unfavorable circumstances. The organization that speculates on precious metals is accused of tricking senior colleagues into buying gold or silver at inflated prices.
The observations state that Alliance Shield LLC has a history of using telemarketing and internet marketing strategies to target senior peers. They further assert that by investing in metals like gold or silver, the corporation would be able to offer a greater exchange rate.
The majority of their senior peers who invested in precious metals like gold or silver through Alliance Shield LLC have reported losing their hard-earned cash. Jeffrey Santulan is Alliance Shield LLC’s owner. He operated Safeguard Metals LLC which was founded in the year 2019 and in the year 2022, the charges have been growing up about fraud against elderly peers. After that, he developed a new firm named Alliance Shield LLC located at the same address as Safeguard Metals LLC worked i.e. 21550 OXNARD ST, 3rd WOODLAND HILLS CA 91367.
The new identifier has been created by Safeguard Metal LLC. They developed the newest company, Alliance Shield LLC. Their current company’s development is similarly reliant on the scams and frauds they committed in the past.
Alliance Shield LLC typically operates in the same industry as Safeguard Metal LLC, based on reports. Selling gold coins to senior citizens at a premium over market rates is mostly dependent on this. It is a terrible crime since elderly people are particularly vulnerable and would find it difficult to get the recognition they need to protect themselves.
The scams that Alliance Shield LLC is engaging in are not novel; rather, they are well-known and frequently occur. It is simple to aim for. It is easy to target older audiences because they are not willing to file a complaint against anyone, even after realising they have been scammed.
Unfortunately, whether or not the trend is beneficial to their clients, companies such as Safeguard Metal LLC and Alliance Shield LLC are obligated to carry out the tasks necessary to reinforce it.
Safeguard Metal LLC, a company that Alliance Shield LLC owned and operated, is currently under close scrutiny. They committed fraud against the elderly in 110. Safeguard Metal LLC is facing 60 million dollars in accusations from DFPI.
The Department of Financial Protection and Innovation (DFPI) sues $68 million against Safeguard Metal LLC
Safeguard Metal LLC is being sued by the Department of Financial Protection and Innovation (DFPI) for $68 million.
Customers and their services to the companies involved in their financial transactions are constantly protected by the DFPI department. The primary goal of this agency is to assist those in need who are willing to report fraudulent companies. They have authority over a range of financial services, experts, and goods.
A federal complaint was filed against Safeguard Metal LLC in Los Angeles by the California Department of Financial Protection and Innovation, the Federal Commodity Futures Trading Commission, and numerous other state regulators. DFPI has filed a $68 million lawsuit against the company.
Jeffrey Santulan, the proprietor of Safeguard Metals LLC, is accused of being involved in the fraud. The business filed a lawsuit for 68 million dollars. According to the lawsuit, Safeguard Metal LLC inflated the assets by billions of dollars by using false information on their websites.
After receiving a complaint, the company was given permanent permission to cease providing deceptive and fraudulent services. Numerous rescission and civil penalties are also involved. (SEC) In accordance with federal securities laws, the Securities and Exchange Commission has brought a secular allegation against the business.
Safeguard Metals LLC has been linked to fraud and schemes involving elderly victims. The company provides monies from security service terminations to retirement accounts known as “SDIRAs” for the purpose of buying metals.
Due to the deceit of Safeguard Metals LLC, some customers were able to profit from sales of goods on credit and cash. The total cost of the plan is around 68 million dollars, of which 26 million will be marked up between October 2017 and July 2021.
The case against Safeguard Metals LLC states that the valuable metals had a markup profit of almost 70% on average and 50% on fresh. The business also disclosed to its clients its markups, which ranged from 22% to 41%. More than 95% of the company’s sales have come from its senior investors.
The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) both conducted investigations into Safeguard Metals LLC’s CEO, Jeffrey Santulan. The company’s past metal sales were the subject of an investigation. Alliance Shield LLC, a Woodland Hills, California-based corporation that sells gold and silver, has been found by Safeguard Metals LLC.
Safeguard Metals LLC was charged by the Securities and Exchange Commission (SEC).
Safeguard Metals LLC and its owner, Jeffrey Santulan, were charged by the Securities and Exchange Commission for their involvement in a multi-million dollar scam scheme that often involves hundreds of elderly investors.
Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 prohibit antifraud, and the Securities and Exchange Commission has filed charges against the owner and the organisation in the Federal district court located in the Central District of California. The Investment Advisor Act of 1934’s Sections 206(1) and 206(2) accused Santulan of encouraging and abetting Safeguard’s violation.
Concluding remarks
The business is a reliable entity with more good customer feedback. But all of that is destroyed. The organisation’s operations have been halted, and a complaint has been made against them.
The customers complained that their money had been taken. Fraud against senior colleagues is the complaint brought against the SEC. The group intentionally took in more than $20 million in fraudulent proceeds.
The District Court has not yet heard proof of Safeguard’s accusation. However, a number of unresolved inquiries have been posted on the BBW website.
