CFTC Cracks Down on Precious Metals Racket, Guardian Asset Group

[kreslik.news]

The US Commodity Futures Trading Commission (CFTC) has ordered more than $1.0 million in restitution and civil monetary penalties against Andrew Kurzbard and Guardian Asset Group, LLC, following the group’s illegal engagement of off-exchange precious metals transactions, per a CFTC filing.

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The action comes amidst a finding that Guardian Asset Group and Mr. Kurzbard had illegally utilized a racket that featured off-exchange transactions in precious metals with retail customers on a leveraged, margined, or financed basis. Per the order, the scam took place between February 2012 and 2013, in ... (read more)