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CFTC, 30 State Regulators Obtain Over $51 Million in Sanctions, Restitution for Victims in California Precious Metals Fraud
CFTC
Sig 2
enforcement
Summary
The CFTC obtained a final judgment against Safeguard Metals LLC and its operator for a $51.2 million precious metals fraud scheme, including $25.6 million in restitution and civil penalties. While this represents a substantial enforcement victory, it involves traditional commodity fraud rather than cryptocurrency and has limited direct impact on the crypto sector.