AG Fitch, Secretary Watson Announce $51 Million Order in Nationwide Scheme that Targeted Seniors

AG Fitch, Secretary Watson announce $51 million order in nationwide scheme that targeted seniors

Attorney General Lynn Fitch and Secretary of State Michael Watson announced that Safeguard Metals LLC and its owner, Jeffrey Santulan, also known as Jeffrey Ikahn or Jeffrey Hill, have been ordered to pay more than $51 million in restitution and civil penalties for defrauding investors across the country. The action was brought in partnership with the U.S. Commodity Futures Trading Commission and 29 other states. State officials said six Mississ…

$51 Million Judgment Issued Against Safeguard Metals LLC and Jeffrey Ikahn for Operation of Fraud Scheme Targeting Older Adults

DES MOINES – The Iowa Insurance Division announced today that the U.S. District Court for the Central District of California has entered a final judgment imposing nearly $25.6 million in restitution against Safeguard Metals LLC and its owner, Jeffrey Ikahn, for operating a fraudulent scheme targeting older and retirement-aged individuals.  Safeguard Metals LLC and Ikahn were also ordered to pay nearly $25.6 million in civil penalties. “This judg…

Final judgment secures $51.2 million against precious metals firm for defrauding elderly investors, including Marylanders

BALTIMORE, MD—Maryland Attorney General Anthony G. Brown has announced a major victory against investment fraud, confirming a final judgment that orders Safeguard Metals LLC and its owner, Jeffrey Ikahn, to pay approximately $25.6 million in restitution and an equal $25.6 million civil monetary penalty, totaling $51.2 million. The judgment, issued by the U.S. District Court for the Central District of California, stems from a nationwide fraudule…