The Los Angeles-based dealer of precious metals defrauded “hundreds of elderly persons into investing more than $30 million in gold and silver coins worth far less than the defendants led victims to believe,” the agency said.Denying the allegations made by the CFTC, Fisher Capital said “we respectfully disagree with the charges made in the complaint by the CFTC and plan to defend ourselves and defend the free will of our clients to make their own financial decisions.
Fisher Capital has “never targeted any specific demographic nor sold precious metals for fraudulent gain as this complaint wrongfully alleges,” the company said in an emailed statement to Reuters.
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