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During the recent recession, some investment companies and brokers preyed on consumers’ fears and employed deceptive business practices to sell commodities and commodity-based index funds that included gold and other precious metals, promising investors big profits and low risks. While brokers reaped huge commissions and fees from these transactions, many investors suffered substantial losses as the market stabilized and there was a dramatic pull-back in the prices of precious metals like gold and other commodities.
The Orlando security fraud attorneys at Colling Gilbert Wright & Carter have a national reach and an established record of success in broker fraud cases, and we may be able to help you if you were a victim of an investment broker’s deceitful sales tactics. Please call us today at (407) 712-7300 for your free consultation.
The Surge of Gold and Other Commodity-Based Funds
As the stock market slumped, many precious metals and other commodities saw gains. Some unscrupulous brokers advised their investors to sell stocks and buy index funds in real assets such as precious metals including:
In many cases, brokers engaged in a breach of fiduciary duty by minimizing the risks of commodities-based funds and failing to disclose the fees associated with investing in precious metals and other assets.
Seeking Help from a Broker Fraud Attorney
Brokers, of course, had everything to gain and nothing to lose. Many profited from the commissions and hidden fees of index funds based on gold and other precious metals while their clients eventually experienced dramatic losses as the stock market settled and the value of precious metals dropped.
The attorneys at Colling Gilbert Wright & Carter are dedicated to helping consumers from Florida and nationwide who suffered financial harm due to unethical brokers or investment agencies. Our lawyers have extensive experience in securities and broker fraud claims, and we are available to listen to your story and discuss your legal options.
Please contact our Florida firm today for your free case evaluation if you believe your investment broker may have used unethical or illegal practices to get you to purchase commodity-based index funds that included gold, silver or other precious metals. Our Orlando office can be reached by phone at (407) 712-7300 or online.