The Federal Trade Commission sent $2.4 million out to investors harmed by a precious metals scam. Charges originally went out against Anthony J. Columbo and his companies, Premier Precious Metals Inc., Rushmore Consulting Group Inc., and PPM Credit Inc. in 2012. The amount sent to investors today represents 70% of what the average investor lost in the scheme. The original judgment imposed $3.6 million against the defendants. The scheme consisted of conning the elderly into buying precious metals on credit without disclosing the associated risks. The FTC is advising harmed investors to cash the mailed checks within 60 days to avoid delays.
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