Operator Fine Commodity Futures Trading Commission (CFTC)· United States · 2025-11-20

CFTC, 30 State Regulators Obtain Over $51 Million in Sanctions, Restitution for Victims in California Precious Metals Fraud

→ Safeguard Metals LLC

The U.S. District Court for the Central District of California ordered Safeguard Metals LLC and Jeffrey Ikahn to pay $25.6 million in restitution and a $25.6 million civil monetary penalty for operating a nationwide precious metals fraud. The CFTC coordinated with 30 state securities regulatory agencies in this enforcement action.

Amount (EUR)

€47,168,000

Original currency

USD 51,200,000

Action date

2025-11-20

Authority

Commodity Futures Trading Commission (CFTC)

Country

United States

Primary source:
https://www.cftc.gov/PressRoom/PressReleases/9139-25 ↗

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