Precious metals company to pay out tens of millions for scheme that defrauded 450 investors
NEW MEXICO (KRQE) – A precious metal company will pay out tens of millions in restitution and penalties after it defrauded 450 elderly investors across the country, including six in New Mexico. State regulators said Safeguard Metals LLC convinced people to buy metals and coins for more than they were worth, squandering their retirement savings.
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The six New Mexicans paid $2.2 million into the scheme.
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