CFTC, States Denied Early Judgment in Precious-Metals Fraud Suit

An enforcement action brought by the CFTC and 30 state attorneys general will proceed in Texas federal court against two individuals who operated precious-metals exchanges and stood accused of defrauding mostly older investors.

“All that glitters is not gold. And even if it is, the CFTC might come after you for selling it at a markup,” Judge Brantley Starr in the US District Court for the Northern District of Texas said in a Monday order denying summary judgment to both sides.

Lucas Asher and Simon Batashvili allegedly used Metals.com, Chase Metals, and Barrick Capital to sell gold and silver bullion ...