[FreePaul]

Years ago I was solicited pretty heavily by a company, I believe in Florida, that had a get rich scheme using gold. I don't remember the details but they bought gold in the investor's name and stored it. I was suspicious and didn't invest. Over several years I tracked their fortunes and found that I could have made a lot by selling at the proper time. About the time I was kicking myself for not investing the whole thing collapsed. Seems that they had only a very small amount of gold to display to investors and potential investors. No telling where all of the investor's money went.

[coloradan]

Hey, when they say they will keep the gold for you, they meant they are going to keep it.

[Neanderthal]

"Years ago I was solicited pretty heavily by a company, I believe in Florida, that had a get rich scheme using gold. I don't remember the details but they bought gold in the investor's name and stored it. I was suspicious and didn't invest. Over several years I tracked their fortunes and found that I could have made a lot by selling at the proper time. About the time I was kicking myself for not investing the whole thing collapsed. Seems that they had only a very small amount of gold to display to investors and potential investors. No telling where all of the investor's money went."

I remember that, too. It was the 1980's and they were in Ft. Lauderdale. Big ads in the Chicago newspapers almost every day, for months or maybe years. Then BAM!! They were gone and all the knuckleheads that had fallen for the scam were SOL. Everybody knew this firm because of the barrage of newspaper advertising. They might have been on the radio too.

[Wolverine]

Gold scam

 

Anatomy of a tricky trading scheme