Certified Gold Exchange Puts Michigan Investors On Alert After Area Man Sentenced For Gold Fraud

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The accused allegedly convinced investors to fund a non-existent hunt for gold hidden in the Philippines during World War II.

CertifiedGoldExchange.com - America's Trusted Source for Gold

CertifiedGoldExchange.com America's Trusted Source for Gold

The Better Business Bureau, the CFTC, and the Certified Gold Exchange make it easy to find a reputable gold dealer.

The official Certified Gold Exchange has responded to a August 19 Grand Rapids Business Journal article about a gold scam allegedly perpetrated by an area man by issuing an Invest Alert for the state of Michigan. Certified Gold Exchange spokesperson Janet Jones says the scam allegedly is a common one.

“The story of ‘Yamashita’s gold’ says that Japanese soldiers buried tons of gold in the Philippines during World War II,” Jones said. “The Grand Rapids man mentioned in the article allegedly tricked investors into funding a search for that gold, but no such search was ever conducted.”

Authorities allege the man raked in over $1.3 million using the premise of Yamashita’s gold, and court documents reveal that money was used to buy at least five luxury vehicles and a pricey property. “Speculators and those with the desire to get rich quickly often become targets for such schemes, and that’s why we recommend that investors take physical delivery of any gold investment they purchase,” Jones commented.

“The Better Business Bureau, the CFTC, and the Certified Gold Exchange make it easy to find a reputable gold dealer. Even if you want to speculate on something like overseas gold recovery, it is still vitally important to do your due diligence to make sure you are dealing with a legitimate company,” added Jones. The case mentioned in the Grand Rapids news is listed online as Case No. 1:13-cr-130 and that case was tried in United States District Court, Western District of Michigan, Southern Division.

Certified Gold Exchange, Inc. is one of North America’s premier precious metals trading platforms, providing unparalleled service to licensed dealers, institutions, and household investors since 1992. Certified Gold Exchange maintains an A+, Zero Complaint Better Business Bureau rating. For more information or a free “Gold Investor’s Guide,” visit https://www.certifiedgoldexchange.com or call 1-800-300-0715 today.

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Ken Hansen

Ken Hansen
@CGEINC
since: 06/2011
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