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The CFTC Charges Los Angeles Area Precious Metals Dealer in $21 Million Fraudulent Scheme
The Commodity Futures Trading Commission and the California Department of Financial Protection & Innovation (DFPI) today announced a joint civil enforcement action in the U.S. District Court for the Central District of California against precious metals dealer Regal Assets LLC, its owner and CEO Tyler G. Gallagher, and its former President Leah Donoso, charging them with misappropriating more than $21 million in a nationwide fraudulent scheme. The complaint charges the defendants with misappropriating customer funds to purchase precious metals from Regal Assets. The majority of the funds came from the ... (full story)