The company, along with CEO Sean Kelly and two former executives, Anthony Spencer and Jeffrey Ward, are accused of convincing hundreds of investors to sell securities in their retirement accounts in exchange for gold and silver coinage at inflated prices.
The company specifically targeted older people with retirement accounts and right-wing political views, according to an August 2020 email from a Red Rock Secured employee to a provider of ad space cited in the SEC complaint. In addition, claims that Red Rock Secured made about retirement plans were also wrong, such as the idea that all TSP investments are tied to the stock market, according to the SEC.
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