Amid the recent and sustained recession, some unscrupulous brokers and investment firms lured anxious investors into purchasing commodities or commodity-based index funds that included gold, silver and other precious metals. These brokers promised consumers big profits with minimal risks during otherwise uncertain times, and they often talked consumers into selling stocks and other assets in order to buy commodities.
Sadly, many investors experienced significant losses as the market steadied and the prices of gold and other precious metals settled to pre-recession levels; the brokers who used deceitful or fraudulent tactics to push commodities and commodity-based funds, however, pocketed massive fees and commissions from their sale at the expense of innocent consumers. If you believe you were a victim of a broker’s deceptive claims, please call the investment fraud attorneys at Colling Gilbert Wright & Carter at 1-866-352-3476 for your free consultation. Our Orlando-based lawyers are proud to help clients nationwide.
Gold and Other Commodities in the Recession
As the stock market bottomed out and the economy lagged, the price of gold and other precious metals surged. Some unethical investment brokers urged investors to sell off their stocks and channel the money into commodity-based index funds that focused on real assets including:
Brokers who underplayed the risks of commodities or failed to disclose the various fees associated with investing in precious metals like gold may have violated their fiduciary duty to investors.
How Our Investment Fraud Attorneys can Help You
In exploiting consumers’ fears and the spike in the value of commodities such as gold, unethical brokers felt they had much to gain and little to lose. Even if their clients suffered eventual losses, the brokers themselves profited from sizable commissions and hidden fees.
The broker fraud lawyers at Colling Gilbert Wright & Carter understand the tactics that disreputable investment companies and brokers use to dupe consumers. Our attorneys have extensive experience helping investors from Florida and across the United States, and we offer free case evaluations so you can understand your legal options.
If you believe an investment broker employed fraudulent, unethical or illegal methods to get you to purchase commodity-based index funds that included gold, silver or other precious metals, please contact Colling Gilbert Wright & Carter for your complimentary consultation. Our investment fraud attorneys welcome clients from the Orlando, Florida, area and nationwide.