Your Gold Investments May Be Worth Less Than You Think
Consumers are getting duped into investing in a catalog of precious metals – like gold and silver coins and bullion – claiming to be a safer retirement option than traditional stock market investments. We are investigating companies that purposefully mislead consumers, potentially skimping you on the value and purity of the alloy, and compromising your life savings. If you have been affected by this scam and purchased precious metals as part of an investment plan, your hard-earned life savings could be in serious risk. We may be able to help – fill out our free case review form or give us a call at 1.800.887.8029 for a free case evaluation.
Misleading Sales Tactics
Our investigation alleges that these firms use names that trade on well-known organizations and businesses that are completely unrelated to precious metals IRA. With the stock market booming, the value of gold is seemingly falling. Bloomberg reports that prices for gold fell drastically for six consecutive weeks running from November to December. “People are still too optimistic on gold”, said John LaForge, head of real assets strategy at Wells Fargo Investment Institute in Sarasota, FL. “We’re in price purgatory for a lot of commodities including gold. You’re going to have a lot of investors and strategists like myself reduce their price forecasts,” (Bloomberg).
Besides possibly skimping the value of the precious metals, they are also running afoul of IRS regulations that could ultimately result in a ten percent penalty of the total value of your IRA. For a $400,000 IRA, the penalty owed to the IRA could be $40,000. Additionally, the IRS has issued an alert on storing precious metals at home or safe-deposit box – metals are required to be held at a qualified storage firm to follow tax rules.
How We Can Help
If you have invested in precious metals like gold, silver and bullion with private investment firms – your retirement could be worth much less than you were told it would be. You may have a claim and we can help you understand your legal options and potential compensation possibilities.
If you are interested in learning if you are affected, or would just like to talk with a lawyer experienced in this type of case, please call us at 1.800.887.8029. We will review your investment documents to determine if you have a claim, at no cost to you.