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Robert Higgins, the owner of Argent Asset Group (LLC) and First State Depository Company, LLC, was embroiled in a media firestorm when the Commodity Futures Trading Commission (CFTC) alleged fraud against him and his companies in connection with a multimillion-dollar scheme involving hundreds of customers.
The civil suit, filed in October 2022, claimed that since 2014 Argent and First State Depository, operating as a single enterprise under the tutelage of Higgins, fraudulently solicited and misappropriated at least $7 million from at least 200 customers with a silver-leasing plan known as the Maximus Program. The CFTC asserts the Maximus Program promised payments to enrolled customers who leased silver to Argent and that customers were informed silver would be acquired and insured on their behalf.
However, the suit asserts that the defendants misappropriated the customers’ assets and misled clients who attempted to transfer their holdings to other depositories and failed to provide the insurance coverage promised. The CFTC claims Higgins is at least indirectly responsible, given his role as the operator of Argent and First State Depository. And that’s not all…
PRIVATE SAFETY DEPOSIT BOXES RAIDED
On the West Coast came another bombshell when U.S. Private Vaults in Beverly Hills, California, was raided by FBI agents in March 2021. The storefront safety-deposit company operated on a system where customers could rent boxes on an anonymous basis. This raised concerns from authorities that “only those who wish to hide their wealth from the DEA, IRS, or creditors would” anonymously rent boxes from U.S. Private Vaults, as wrote FBI agent Lynne Zellhart in an affidavit.
Diese Geschichte stammt aus der April - May 2023-Ausgabe von COINage Magazine.
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Diese Geschichte stammt aus der April - May 2023-Ausgabe von COINage Magazine.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
![13 Kenny Duncan Sr.](https://reseuro.magzter.com/100x125/articles/6583/1698963/zC6jbrBGm1715759942929/13-KENNY-DUNCAN-SR.jpg)
13 Kenny Duncan Sr.
NUMISMATIST OF THE CENTURY
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1935 Bank of Canada $500 English Text Boosts Heritage's World Paper Money Auction to Nearly $2M
Currency from Canada showed its might in the Heritage’s World Paper Money Signature Auction held earlier this year.
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Central States Numismatic Society Honors Dennis Tucker
Publisher/author receives 2024 Q. David Bowers Award
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GOLDEN OPPORTUNITIES FOR THE HOBBYIST
JOINING THE NATIONAL COIN CLUB AND WATCHING GOLD
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Dwight N. Manley
NUMISMATIST OF THE CENTURY
![Len Augsburger](https://reseuro.magzter.com/100x125/articles/6583/1698963/isRmQ4_JQ1715759337149/LEN-AUGSBURGER.jpg)
Len Augsburger
IN CHARGE OF DIGITIZING EVERYTHING NUMISMATIC
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New Photo Guide to Grading Morgan Silver Dollars
SECRETS OF THE CAC GRADING SYSTEM
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British Rarities Are Shining Star
AUCTION FEATURES PEH COLLECTION HIGHLIGHTS
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Coin Learning for Fun & Profit
ARE SUMMER SEMINARS THE FUTURE?
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Canadian Coins Are Pretty COOL Eh?
Oh, Canada... The land of ice hockey, poutine, and Tim Horton's coffee has produced scores of beautiful coins that make collectors flip their toques.