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Department of Business Oversight Sues to Stop $185 Million Coins Scam that Targeted Senior Citizens

Part of a nationwide enforcement action to disrupt a fraudulent precious metals scheme that preyed on the elderly, the California Department of Business Oversight (DBO) announced today it secured a petition to shut down an alleged commodities and investment adviser fraud that solicited more than $185 million from seniors and other investors by selling overpriced gold and silver coins nationwide.

Small Business Investors, Hobbyists Sue Minnesota for Criminalizing Their Pursuits

A group of small business investors and coin enthusiasts are suing the State of Minnesota in an effort to decriminalize their small cap alternative investment and collection pursuits. A September 22, 2020, online press conference addresses this lawsuit and the current Minnesota law that makes it illegal to purchase or sell a combined annual total of over $25,000 in gold, silver, or other precious metals, without registering as a dealer and posting a surety bond. The lawsuit, filed by attorney Erick Kaardal of Mohrman, Kaardal & Erickson, P.A., declares this “Bullion Dealer Law” to be unconstitutional and an impediment to interstate commerce.

World Gold Council Launches Retail Gold Investment Principles

World Gold Council logoThe World Gold Council, the market development organisation for the gold industry, has today launched its new Retail Gold Investment Principles (RGIPs). These Principles are designed to set the bar for product providers across the global retail gold market and further encourage retail investors to place their trust in gold.

Whitman Coin & Collectibles Expos Forced to Cancel November Event

Whitman Coin & Collectibles Expo bourseThe Whitman Coin & Collectibles Expo scheduled for November 12–14, 2020, has been forced to move from the Baltimore Convention Center by Maryland’s ongoing mitigation of the COVID-19 coronavirus pandemic.

Maryland’s COVID-19 mitigation strategies include restricting public access to state buildings, including the Baltimore Convention Center, and controlling the size of public events.

Former Loomis Head Joins Dillon Gage

Dillon Gage, the world leader in precious metals trading and technology, announces the appointment of Joe De Rosa to serve as managing director for the International Depository Services Group – Global, also known as IDS, and senior vice president of Dillon Gage Logistics and Distribution. The International Depository Services Group includes IDS Texas in Dallas, IDS Delaware in New Castle and IDS Canada in Mississauga, Ontario.

De Rosa joins Dillon Gage Metals with a wealth of knowledge and expertise in transporting currencies and precious metals globally. He brings over 15 years of experience in the international valuable logistics industry combined with a background in risk management, business planning and development.

“Gaining a talent of Joe’s merit is a huge win for our organization,” said Terry Hanlon, president of Dillon Gage. “Joe is seasoned in all aspects of logistics and is geared to drive business growth and product development. His accomplished experience with risk management and business planning make him a perfect fit for Dillon Gage.”

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