FTC Sends More Than $2.4 Million in Refunds to Consumers Harmed by Investment Scam

The Federal Trade Commission has sent more than $2.4 million in refund checks to just over a hundred consumers harmed by the Premier Precious Metals scheme, which bilked millions of dollars from investors, including many senior citizens. In February 2014, the defendants were permanently banned from selling any investment opportunities under a settlement with the FTC. They conned consumers into buying precious metals on credit without clearly disclosing significant costs and risks, including the likelihood that consumers would subsequently have to pay more money or lose their investments. [3/11/15]

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