{"id":1728,"date":"2015-10-17T12:33:13","date_gmt":"2015-10-17T12:33:13","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2015\/10\/cftc_charges_guardian_asset_gr"},"modified":"2022-03-22T14:26:45","modified_gmt":"2022-03-22T19:26:45","slug":"cftc-charges-guardian-asset-gr","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/cftc-charges-guardian-asset-gr\/","title":{"rendered":"CFTC Charges Guardian Asset Group With Illegal Off-Exchange Precious Metal Transactions"},"content":{"rendered":"

\t\t\t\tThe U.S. Commodity Futures Trading Commission has submitted a civil injunctive enforcement action against Guardian Asset group LLC and its owner Andrew Kurzbard. The regulator claims the defendants took part in illegal-off-exchange transactions involving precious metals. The transactions purportedly involved retail customers and took place on a financed, margined, or leveraged basis.<\/p>\n

According to the regulator, from February 2012 through at least February of the following year, Guardian and Kurzbard solicited customers by phone to get them involved in precious metal transactions. The company was able to collect at least $1.7 from its customers related to the transactions while earning over $434K in commissions.<\/p>\n

The CFTC said that Guardian accepted customer funds and orders, acting as a Futures Commission Merchant but was not registered with the regulator as an FCM. The regulator says that because Kurzbard is Guardian’s control person, he is liable for its Commodity Exchange Act violations.<\/p>\n

The CFTC’s complaint also claims that Guardian executed illegal precious metal transactions using AmeriFirst Management LLC. It was two years ago that the regulator filed an enforcement action against that company, accusing it and others of illegal, off-exchange precious metal transactions. AmeriFirst was charged with numerous violations, including fraud. The agency entered a consent order resolving the claims against AmeriFirst later that year after finding it liable for fraud and of engaging in illegal off-exchange precious metal transactions.
\n Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The U.S. Commodity Futures Trading Commission has submitted a civil injunctive enforcement action against Guardian Asset group LLC and its owner Andrew Kurzbard. The regulator claims the defendants took part in illegal-off-exchange transactions involving precious metals. The transactions purportedly involved retail customers and took place on a financed, margined, or leveraged basis. According to the […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3810],"tags":[3119],"class_list":["post-1728","post","type-post","status-publish","format-standard","hentry","category-cftc","tag-precious-metals"],"yoast_head":"\nCFTC Charges Guardian Asset Group With Illegal Off-Exchange Precious Metal Transactions — Investor Lawyers Blog — October 17, 2015<\/title>\n<meta name=\"description\" content=\"The U.S. Commodity Futures Trading Commission has submitted a civil injunctive enforcement action against Guardian Asset group LLC and its owner Andrew — October 17, 2015\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/cftc-charges-guardian-asset-gr\/\" 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